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
This week was important forÂ theÂ Forex market andÂ theÂ US dollar inÂ particular. TheÂ Federal Open Market Committee held its last policy meeting inÂ 2014, andÂ it could make orÂ break theÂ future forÂ theÂ US currency. AsÂ it turned out, theÂ event was beneficial forÂ theÂ greenback.(...)Read the rest of Dollar Ends Last FOMC Week in 2014 on Strong Note (141 words) Posted on Forex News.
TheÂ Canadian dollar fell today asÂ Canadaâ€™s consumer prices declined more than was expected. Still, theÂ currency was able toÂ outperform theÂ euro andÂ theÂ Japanese yen.(...)Read the rest of Canadian Dollar Drops as CPI Declines, Still Stronger than Yen (115 words) Posted on Forex News.
TheÂ Polish zloty fell today onÂ concerns that economic troubles inÂ Russia may spread toÂ other Eastern European countries. Yet analysts argue that theÂ future does not necessarily looks bleak forÂ theÂ currency.(...)Read the rest of Polish Zloty Falls on Concerns about Russiaâ€™s Troubles (84 words) Posted on Forex News.
TheÂ Japanese yen dropped after theÂ Bank ofÂ Japan decided toÂ keep its unprecedented monetary stimulus atÂ todayâ€™s policy meeting. TheÂ currency trimmed its losses later but still trades below theÂ opening level.(...)Read the rest of Yen Drops as BoJ Keeps Stimulus Unchanged (80 words) Posted on Forex News.