The British pound is performing well compared to the US dollar, and it has been the trend in recent months. This outcome comes to light after the United Kingdom negotiated a Brexit deal with the European Union and started distributing the COVID-19 vaccination, thus raising expectations of returning to normal activities. On January 25, the UK pound was trading at 1.37 against … [Read more...] about UK Pound Forecast 2021: What to Expect
Reality of Brexit Deal Hits the UK as Supermarkets Slowly Run Empty
Brexit may be a done deal and is already currently taking effect; however, its ramifications will affect Britain for years to come. After all of the protest made when UK Prime Minister Boris Johnson made a deal with Brussels on December 24, 2020, the reality of leaving the EU's customs and regulatory territory is starting to surface. The fact that the said deal was only … [Read more...] about Reality of Brexit Deal Hits the UK as Supermarkets Slowly Run Empty
UK British Pound Gets Behind Euro and US Dollar; Outlook Over Market Performance Remains Constructive
The British Pound had reached a new high after eight months against the euro and US dollar in the past week. Now it has retreated, and it seems like the weekend won't be strong either. Analysts said that Pound Sterling would stay well supported amid the rising global markets and the vaccine rollout in the United Kingdom. The British pound-to-euro exchange had hit an … [Read more...] about UK British Pound Gets Behind Euro and US Dollar; Outlook Over Market Performance Remains Constructive
Brexit Aftermath: UK Retailers Wants to Burn Goods Stuck in EU, Cost of Some Products Skyrocketed
Brexit deal may cause UK retailers to abandon the goods that EU customers want to return. Some of them are even thinking of just burning the items because it is cheaper to get rid of them than bringing them back to the UK. Retailers said that the new EU trade deal had put costly duties on the returns when businesses are already struggling due to the pandemic. UK Retailers … [Read more...] about Brexit Aftermath: UK Retailers Wants to Burn Goods Stuck in EU, Cost of Some Products Skyrocketed
Brexit Effect: UK Pound is Still Strong But May Suffer in the Next Few Years
Since January 1, 2021, the Brexit deal did not significantly affect the British pound's exchange rate. The pound was still steady against the other currencies, such as the US dollar, which at the time was at US$1.36 and has strengthened a bit against the euro to €1.12. These figures are consistent with the expectations of the global market. Now the question is, what will … [Read more...] about Brexit Effect: UK Pound is Still Strong But May Suffer in the Next Few Years