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 Swiss franc fell along with theÂ euro against theÂ US dollar today asÂ Swiss policy makers continue toÂ talk about excessive strength ofÂ theÂ currency andÂ need toÂ keep theÂ ceiling onÂ theÂ franc. TheÂ Swissie managed toÂ rise against theÂ euro itself.(...)Read the rest of Swiss Policy Makers Still Think Franc is Overvalued (84 words) Posted on Forex News.
TheÂ Canadian dollar advanced today after theÂ Bank ofÂ Canada left its monetary policy unchanged. TheÂ currency was soft previously asÂ retail sales data was rather negative.(...)Read the rest of CAD Edges Higher After Bank of Canada Meeting (115 words) Posted on Forex News.
Once again, theÂ Bank ofÂ England is disappointing Forex traders, andÂ that is leading toÂ aÂ lower pound today. With aÂ rate hike nowhere inÂ sight, there is little toÂ help theÂ sterling against its major counterparts. (...)Read the rest of UK Pound Slumps After BOE Minutes (134 words) Posted on Forex News.
With sterling holding steady against the greenback on Tuesday, traders will comb the minutes from the Bank of England's (BoE) latest rate-setting policy committee meeting for clues about a potential rate hike schedule on Wednesday. Most market analysts expect dovish overtones to prevail despite two of the nine members of the Monetary Policy Committee (MPC) voting for a rate rise last month. It's a sensible assumption in an uncertain global economic environment exacerbated by a slowdown in...