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
Initially, it looked like this trading week would be another week ofÂ consolidation forÂ theÂ euro. Yet theÂ shared 18-nation currency lost its ground byÂ theÂ weekend due toÂ combined influence ofÂ poor economic indicators andÂ comments from European policy makers.(...)Read the rest of Euro Loses Ground by Weekend (117 words) Posted on Forex News.
Peopleâ€™s Bank of China cuts rate to 5.6% Japanâ€™s parliament is dissolved and tax hike on paused The Chinese central bank made headlines on Friday morning with a surprise rate cut designed to avoid falling short of its growth target this year. The Peopleâ€™s Bank of China (PBoC) had tried smaller stimulus packages earlier this year with limited success. Beijing started a campaign about China falling short of its projected 7.5% growth this year, and that all things...
With Black Friday and Christmas around the corner, many will once again be turning to the internet to pick up bargains and gifts. Most people will reach for their debit or credit card when they reach the checkout page or rack their brain for their PayPal password. But an increasing amount of online shoppers are venturing beyond UK websites for bargains and unique gifts or party dresses/outfits and this makes your payment method all the more important. With fees of up to 4% for foreign...
TheÂ Australian dollar climbed today, reaching theÂ highest level inÂ more than aÂ year andÂ half against theÂ Japanese yen. TheÂ rally followed aÂ surprise interest rate cut from Chinaâ€™s central bank.(...)Read the rest of Chinaâ€™s Interest Rate Cut Lifts Australian Dollar (112 words) Posted on Forex News.