The honeymoon period with the new Conservative government is over.
Sterling enjoyed a brief rally this summer, with a 2% rise against a basket of currencies of the UK’s major trading partners and rose around 9 cents to hover just below the USD $1.60 mark.Sterling has managed to perform relatively well because of the inherent weaknesses of other economies; the Euro was held back (the Greek economic crisis) and the US dollar has been suffering against every other major economy in the world as it struggles to shake itself out of the effects of recession.Now...
The UK National Statistics Office has reported that overseas spending by British holiday makers has dropped by 10%. However, at the same time, spending in the UK by foreign tourists has increased by 4%.
The UK was once regarded as the “workshop of the world”, and exports still account for a substantial portion of UK manufacturing and commercial activities today.
Transacting business overseas is a valuable commercial hedge against adverse market conditions at home as well as a mean of providing highly profitable opportunities to generate business growth.
Shop Around for Best Value Currency Exchange When Leaving the UK
Australian-Indian company igot has launched the UAE's first bitcoin exchange, hoping to capture some of the Indian remittance market. Source: www.coindesk.com Woot! Woot! That's the sound of a new exchange (in Dubai). #bitcoins Related posts: It's David vs. Goliath in race to launch NY's first regulated bitcoin exchange Embattled Bitcoin Exchange Mt. Gox Expected To File For Liquidation California Governor Grants Bitcoin ?Legal Money' Status
TheÂ Australian dollar fell against its US peer asÂ Australiaâ€™s private sector credit trailed analystsâ€™ forecast. TheÂ losses were limited though, andÂ theÂ currency even managed toÂ rise aÂ little against theÂ Japanese yen.(...)Read the rest of AUD Falls vs. USD, Holds Ground vs. JPY (69 words) Posted on Forex News.The post AUD Falls vs. USD, Holds Ground vs. JPY appeared first on Forex News.
Even though the euro is a little higher against some of its major counterparts, the 18-nation currency is headed for a weekly decline. The latest economic data confirms that rises in consumer prices continue to slow. (...)Read the rest of Euro Heads for Another Weekly Decline (141 words) Posted on Forex News.The post Euro Heads for Another Weekly Decline appeared first on Forex News.
TheÂ Japanese yen attempted toÂ extend its rally against theÂ US dollar today but failed andÂ retreated close toÂ theÂ opening level. TheÂ currency traded mostly sideways against other major counterparts.(...)Read the rest of Yen Halts Rally as Economic Data Provides Mixed Picture (136 words) Posted on Forex News.The post Yen Halts Rally as Economic Data Provides Mixed Picture appeared first on Forex News.