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
TheÂ Great Britain pound edged aÂ little lower against theÂ US dollar andÂ theÂ Japanese yen but gained onÂ theÂ euro today after theÂ release ofÂ macroeconomic data from theÂ United Kingdom. TheÂ reports were mixed, providing no clear direction forÂ theÂ currency.(...)Read the rest of GBP Lower vs. USD & JPY, Higher vs. EUR After Mixed Data (128 words) Posted on Forex News.
TheÂ euro demonstrated aÂ surprise performance during Mondayâ€™s trading. TheÂ currency sank initially due toÂ theÂ worries about theÂ Greek debt drama, yet theÂ losses were short-lived andÂ forÂ some reason theÂ euro bounced strongly after theÂ initial drop.(...)Read the rest of Euro Bounces During Mondayâ€™s Volatile Trading (186 words) Posted on Forex News.
TheÂ Swiss franc gained today against theÂ US dollar andÂ theÂ euro asÂ theÂ risk-negative sentiment onÂ theÂ Forex market drove investors toÂ theÂ safety ofÂ theÂ Swiss currency. Initially, theÂ Swissie traded lower versus theÂ greenback due theÂ intervention from theÂ central bank.(...)Read the rest of Swiss Franc Recovers Despite Actions of SNB (78 words) Posted on Forex News.
TheÂ Mexican peso fell against theÂ US dollar today asÂ theÂ debt crisis inÂ Greece made traders unwilling toÂ buy riskier currencies ofÂ emerging economies. TheÂ currency bounced from theÂ daily low asÂ ofÂ now but is still trading below theÂ opening level.(...)Read the rest of Mexican Peso Suffers from Risk Aversion Caused by Greece (61 words) Posted on Forex News.