Brexit Insight: How Should Your Business React?

Brexit Insight: How Should Your Business React?

The UK is leaving the EU – So now is not the time to bury your head in the sand. HOW DO THINGS STAND AT PRESENT? The UK economy appears to have weathered the initial shock of the Brexit vote, although the British pound’s value remains near a 30-year low, opinion is sharply divided over the long-term effects of leaving the EU. Major firms such as EasyJet and John Lewis have pointed out that the sterling slump has increased their costs. Britain also lost its top AAA credit rating, meaning…

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Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

Brexit Fallout Spells Estimated £38 billion loss for the British Financial Industry

The British Financial Industry could lose up to £38 billion (43 billion euro) in revenue if the UK undergo a so-called “Hard Brexit” restricting access to the European single market. This will result in the UK being subject to both tariffs and non-tariff barriers. A report by Oliver Wyman ordered by the industry lobby group TheCityUK, summaries two different outcomes following a “Hard Brexit”. One outcome would see the UK cut all ties with the single market. If this were to happen, revenue may fall by £20 billion causing a…

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Will The Euro Be Hit With A Double Whammy

Will the Euro experience a double whammy from federal Interest Rate Rises and Multi-nationals buying all their currency in January?

The Euro over the next month to six weeks could have a double whammy consecutively. Today the entire Forex market is expecting and aligned for a 0.25% interest rate rise from the Federal Reserve, which will take interest rates in the US to 0.375%. While the Euro has broken the $1.10 mark this week. Ultimately this is due to the ECB surprising the markets two weeks ago and the Forex market being unprepared to make any drastic movements before today’s meeting.

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8 Ways to Improve Your Foreign Currency Conversions

Author: Arron Finn Currency Volatility Destroys Companies Profits November 5, 2015 Arron Finn Images showing the forex market experiencing currency volatility Due to globalisation, companies whether doing business internationally or nationally are effected by currency volatility which can impact profitability. For instance, how about losing 298 million pounds in nine months due to emerging market currency volatility. Or Swiss companies facing increasing pressure once the Swiss Central Bank allowed the Swiss Franc to float on the open market. READ MORE Blog, currency volatility, Emerging currencies, Foreign CurrencyLeave a commentEdit "Currency Volatility Destroys Companies Profits" Irish Charitable Trust Receives Support From TransferMate October 13, 2015 Arron Finn Team of 35 cyclists who are part of Irish Charitable Trust TransferMates Managing Director, Barry Dowling took part in a 230 kilometer cycle which began in Greystones and finished in Cardiff. Irish Charitable Trust has raised one hundred thousand euro for the IRFU Charitable Trust, Focus Ireland and Team Jonathan Ranson. Each charity does incredible work within its own respective field. The IRFU Charitable Trust aims to support rugby players who get a life changing injury. READ MORE Blog, UncategorizedLeave a commentEdit "Irish Charitable Trust Receives Support From TransferMate" 8 Ways to Improve Your Foreign Currency Conversions

If part of your job involves converting foreign currency to US dollars or vice versa, 2014 could have been a challenging year for you.

If you are based in the U.S. and selling to clients overseas, your products – depending where you sell them – this year became on average 10% more expensive (US Dollar Index+9.8%). If you were importing it was a banner year – you just saved on average 10% on your products. By historical standards this was one of the best appreciations of the dollar over the last 15 years.

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