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
Economy
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
Pound Sterling Shows Promise, Jumps Ahead of Euro and US Dollar on the Global Market
The British pound showed improvement on January 19 amongst global investors as it appreciated against the Euro, US Dollar, Yen, and Franc. Both the European and Asian stock markets have gone higher in the middle of the week, while the futures for the United States markets also show an opening on Wall Street. This suggests that Pound Sterling's performance is showing promise … [Read more...] about Pound Sterling Shows Promise, Jumps Ahead of Euro and US Dollar on the Global Market
Brexit Ramification: How it Affected British Pound and Euro
The British pound had suffered immensely since the United Kingdom voted to leave the European Union. The two Downing Street successions were immediately followed by the COVID-19 pandemic that has affected the whole world and is reflected in the currency exchange market. But why did Brexit affect the British pound and euro so much? Numerous factors can cause currency … [Read more...] about Brexit Ramification: How it Affected British Pound and Euro
British Pound vs. US Dollar: The Highs and Lows as the Economy Struggles to Recover
Almost a year since the spread of the pandemic, the Pound exchange rates remain linked with the global economy, and it is interconnected with how well the British Pound does in the stock market. The US dollar also tends to be inversely related, and this type of combination strengthens the Pound-to-Dollar or GBP/USD exchange rate moves when the global conditions, like the … [Read more...] about British Pound vs. US Dollar: The Highs and Lows as the Economy Struggles to Recover