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 common currency closed the week with a solid appreciation, climbing to 1.3454 versus the US Dollar. It was a broad-based strength, across the entire basket of majors. Seems like every piece of news coming from the Euro zone is interpreted as EUR positive. Only time will tell if this trend persists, but for now the sentiment is strongly bullish. Of course, when everything is ?great' it is easy to be swept in the tide of optimism and forget that markets cannot stay one-sided...
Europe is ?the land of opportunity' so says the deep in the profit long EUR investor. It was only a couple of weeks ago that the psychological 1.35 level was a mere mirage. It is now becoming just another small hurdle to take out. Falling Euro periphery yields and Friday's LTRO schedule repayment results are giving the ?single currency' some new found momentum that wants to push it towards the new psychological point of 1.37. Investors are now asking ?and why not.? The Euro fiscal situation...
Is there a strong ?silent' currency war in play' If so, the real investor needs to be officially invited so they can avoid betting against Central Banks this year. Looking at the yen, it remains one of the surest bets! Yesterday, the dollar managed to record its largest one-day rise against the currency from the ?rising sun' in 13-months. The yen weakness was again mostly fuelled by stoic comments from the Japanese Vice-Finance minister Nakao, who indicated that ?appropriate action' would be...
The Japanese yen extended its tumble today, reaching the lowest level since June 2010 against the US dollar and the lowest since April 2011 versus the euro, as persistent deflation spurred talks that policy makers have no other choice than to continue introducing monetary easing measures, weakening the currency.(...)Read the rest of Yen Tumbles amid Persistent Deflation (87 words) Posted on Forex News.