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
The Bank of Canada did what was expected of them – absolutely nothing. Today they held firm, and maintained their overnight rate at +1%, their corresponding bank rate at +1.25% and the deposit rate at +0.75%. Canada’s inflation, similar to many other economies, remains low. The core-inflation rate is expected to stay well below the BoC target of +2% this year, mostly due to the on going economic slack. However, policy makers do anticipate inflation to rise in the coming few...
See on Scoop.it ? Money & Payments It's also possible the Japan-based Bitcoin exchange could find a buyer. What was once the largest Bitcoin exchange now plans to file for liquidation. Read Full Story Faisal Khan?s insight: Well, a lot of people are going to be disappointed because of this. There goes any chance of recovering your money. #sad See on www.fastcompany.com
With the 18-member single currency sitting high and mighty, European Central Bank (ECB) President Mario Draghi reopened the “verbal intervention playbook”. He is buying time in the hope that an improvement will soon be seen on the eurozone inflation front. So far, all the euro has managed to do is skulk away from its recent key high values – north of ?1.3900. For the ECB to get more “bang for the buck”, it needs to be proactive, aggressive, and perhaps it should...
See on Scoop.it ? Money & Payments Quixter has built a biometric pay-by-palm technology system that's up and running at Lund University in Sweden. The idea is the brainchild of Fredrik.. Faisal Khan?s insight: Pay by hand. Palm based biometrics can now authenticate payment at the checkout counter. See on techcrunch.com