With no signs of letting up, the cold winds of Brexit uncertainty blowing through parliament have been pretty chilling for the UK economy. With Theresa May revealing on Sunday that MPs might not vote on her new deal until 12 March, and rumours swirling that Brexit may be delayed until May or beyond, businesses are in despair. And so Britain’s currency is in the spotlight. Sterling has been particularly sensitive to significant developments in Westminster and Brussels – analysts and investors are watching closely. The value of the pound affects the price of our imports, such as food and raw materials, and our exports, such as cars. So while a fall in sterling’s value might help exporters, the knock-on effects are that our weekly food shops and our overseas holidays are likely to become more expensive. So how did we get into this situation, and what should investors do? The UK economy was relatively stable during 2018. The labour market has strengthened, supported by a … [Read more...] about How to ride the pound sterling roller coaster through a no-deal Brexit
Pounds dollars exchange rate history
The pound is at the mercy of Brexit and, with the UK facing even more uncertainty following Theresa May’s defeat yesterday, there will be even more volatility for GBP, experts have warned. Sterling fell against the euro yesterday evening following the vote but has soared since, peaking higher than yesterday morning. The pound is currently trading at €1.128 against the euro, according to Bloomberg at the time of writing. “Theresa May has just experienced the largest defeat for a sitting government in history,” Ian Strafford-Taylor, CEO of currency expert FairFX said. “As Labour leader Jeremy Corbyn tables a vote of no confidence in the government - which could well trigger a general election - the UK faces even more uncertainty, and consequently even more volatility for the pound.” “As MPs went to vote on May’s proposed Brexit deal, the pound stood 14 per cent down against the Euro, and down 13 per cent against the US dollar compared to … [Read more...] about Pound to euro exchange rate: How did the Brexit vote affect sterling?
From Norway to Australia, and from Japan to Puerto Rico, here's our pick of destinations – enough to keep you busy for every week of the next 12 months 1. Puerto Rico After a devastating hurricane, an island on its way back For as long as I can remember growing up in Puerto Rico, El Morro, the indestructible fort with the endless lawns at the entrance to San Juan harbour , was where you went to fly a kite. And on a recent sunny afternoon, just as expected, a couple and their young son were there trying to catch an updraft to loft a plastic butterfly with a long blue tail into the sky. On Fortaleza Street, an art installation of colourful umbrellas hovered above pedestrians, triggering countless selfies. A short ferry ride away from the old city, at the Bacardí rum distillery in the town of Cataño, visitors sipped cocktails in an open-air pavilion with a roof shaped like a bat in flight. But as Puerto Rico tries to come back as a premier Caribbean destination after the … [Read more...] about 52 places to go in 2019: A year of globetrotting travel
HOLIDAYMAKERS jetting off for some winter sun should change their pounds into dollars or euros now to get the most for their cash, experts are warning. MPs are due to cast their votes on Theresa May's Brexit deal in the Commons tonight, which could end up causing the pound to crash. If sterling weakens, so will the exchange rates and your money won't stretch as far when holidaying abroad, but of course it could also strengthen making it go further. Today, the pound is down 14 per cent against the Euro, and down 13 per cent against the dollar compared to the day of the Brexit Referendum in 2016, giving you £158 fewer euros on £1,000 and £149 fewer dollars, according to FairFX. Political decisions and speculation can cause the pound to soar, plummet or remain the same but there's no guaranteed outcome, making it "almost impossible" for experts to predict. If you're worried, you can always exchange half of your money now and the rest later to avoid paying … [Read more...] about Why you should buy holiday money NOW before today’s Brexit vote
The economic history of the United Kingdom deals with the economic history of England and Great Britain from 1500 to the early 21st century. (For earlier periods see Economy of England in the Middle Ages and Economic history of Scotland). After becoming one of the most prosperous economic regions in Europe between 1600 and 1700, Britain led the industrial revolution and dominated the European and world economy during the 19th century. It was the major innovator in machinery such as steam engines (for pumps, factories, railway locomotives and steamships), textile equipment, and tool-making. It invented the railway system and built much of the equipment used by other nations. As well it was a leader in international and domestic banking, entrepreneurship, and trade. It built a global British Empire. After 1840, it abandoned mercantilism and practised "free trade," with no tariffs or quotas or restrictions. The powerful Royal Navy protected its global holdings, while its legal … [Read more...] about Economic history of the United Kingdom