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 Federal Open Market Committee's (FOMC) April meeting minutes showed the biggest highlight from the Federal Reserve policymakers' pow-wow was an interest rate hike in June isn't going to happen. Regardless, the USD got a boost from Fed members' comments that made clear they are pushing for a rate hike sooner rather than later. Market watchers had anticipated this given the soft economic data out of the U.S. in the first quarter of 2015. The central bank is adamant that the negative factors...
TheÂ Great Britain pound fell today despite better-than-expected macroeconomic data from theÂ United Kingdom. Still, theÂ currency was heading toÂ aÂ weekly gain against theÂ euro andÂ theÂ Japanese yen, though it likely toÂ end theÂ week with losses against theÂ US dollar.(...)Read the rest of Pound Heads to Weekly Gains Despite Fridayâ€™s Drop (68 words) Posted on Forex News.
TheÂ Japanese yen was stronger after aÂ central bankâ€™s policy meeting today asÂ Japanese policy makers yet again decided toÂ refrain from changing anything. TheÂ currency gained against theÂ US dollar andÂ theÂ Great Britain pound, though it has trimmed gains versus theÂ former asÂ ofÂ now.(...)Read the rest of Yen Stronger After BoJ Makes No Move (53 words) Posted on Forex News.
Fed: more talk and more data No June rate hike has the dollar under pressure European PMIs mixed, fragile recovery expected U.K. retail sales supports sterling There was nothing groundbreaking revealed yesterday in the April Federal Open Market Committee (FOMC) minutes. Market price action would suggest that it was an uninspired event ticking off most individuals' boxes. Most dealers are still digesting yesterdayâ€™s minutes, and that has temporarily taken some of the wind out of the...