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 New Zealand dollar rose today even though nation’s Finance Minister Bill English voiced concern about the currency’s strength. The kiwi was trading near the highest level since 2007 against the Japanese yen.(...)Read the rest of NZ Dollar Jumps Despite Finance Minister Comments (62 words) Posted on Forex News.The post NZ Dollar Jumps Despite Finance Minister Comments appeared first on Forex News.
Once again, ECB officials are talking about the possibility of negative interest rates to help boost the eurozone economy. As a result, the euro is heading lower against its major counterparts, even hitting a multi-week low against the US dollar. (...)Read the rest of Euro Falls on Talk of Negative Interest Rates (135 words) Posted on Forex News.The post Euro Falls on Talk of Negative Interest Rates appeared first on Forex News.
The Australian dollar surged today after comments of central bank chief Glenn Stevens bolstered optimism for Australia’s economy. The Aussie reached the highest level this year against major currencies, including the US dollar, the euro and the Japanese yen.(...)Read the rest of Australian Dollar Surges on Stevens’ Comments (118 words) Posted on Forex News.The post Australian Dollar Surges on Stevens’ Comments appeared first on...
The US dollar retreated today as US policy makers were trying to talk down expectations of an interest rate hike that were driving the greenback up last week. The US currency is attempting to regain its footing at the current time, erasing the big part of its losses versus the Great Britain pound and the Japanese yen.(...)Read the rest of Dollar Weakens as Policy Makers Talk (172 words) Posted on Forex News.The post...