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
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...
TheÂ New Zealand dollar rose today, getting help from positive economic reports from China. While theÂ currency slowed its rise asÂ ofÂ now, it still trades above theÂ opening level, extending its bounce from fresh lows that theÂ currency has reached earlier this month.(...)Read the rest of NZ Dollar Extends Bounce from Octoberâ€™s Lows (74 words) Posted on Forex News.
Yesterday, theÂ ECB announced that it is buying covered bonds asÂ part ofÂ aÂ plan toÂ try toÂ keep theÂ eurozone economy from sliding back into recession. This announcement is weakening theÂ euro, andÂ theÂ 18-nation currency is down against its major counterparts. (...)Read the rest of Euro Drops as ECB Buys Covered Bonds (124 words) Posted on Forex News.
TheÂ Canadian dollar started theÂ week with losses against some ofÂ its major peers, including theÂ euro andÂ theÂ Japanese yen, andÂ continued toÂ fall today. Mondayâ€™s economic data was positive, but it did not help theÂ currency.(...)Read the rest of CAD Turns Down, Positive Data Doesnâ€™t Help (121 words) Posted on Forex News.