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 US dollar jumped against theÂ Japanese yen today onÂ theÂ back ofÂ positive economic reports from theÂ United States. TheÂ currency also rose against theÂ Great Britain pound andÂ erased earlier losses versus theÂ euro.(...)Read the rest of Dollar Jumps vs. US with Help of Positive US Data (106 words) Posted on Forex News.
Woes ofÂ theÂ Russian ruble continue asÂ theÂ currency extended its drop today due toÂ concerns that Standard & Poorâ€™s may reduce Russiaâ€™s credit rating toÂ junk, adding toÂ incentive forÂ investors toÂ avoid Russian assets.(...)Read the rest of Rubleâ€™s Woes Continue (46 words) Posted on Forex News.
TheÂ latest manufacturing data is inÂ forÂ theÂ eurozone, andÂ itâ€™s more positive than expected. AsÂ aÂ result, theÂ euro is gaining ground against many ofÂ its counterparts. This might theÂ news that theÂ 18-nation currency region has been waiting for, since it signals that maybe another recession isnâ€™t inevitable after all. (...)Read the rest of Euro Gains on Manufacturing Data (129 words) Posted on Forex News.
TheÂ Australian dollar edged lower today even asÂ economic indicators from Australia andÂ abroad were supportive forÂ theÂ currency. Yesterdayâ€™s positive economic data from theÂ United States made traders toÂ prefer theÂ US currency over riskier ones.(...)Read the rest of Aussie Edges Lower Despite Positive Data (66 words) Posted on Forex News.