UK warned they won’t receive special treatment once left the EU while the race for a new PM begins

UK warned

At the first meeting of the EU Summit earlier this week, the UK Prime Minister David Cameron used his last meeting there to voice his disappointment that he failed to win his side of the referendum. However the EU leaders said there would be no turning back for the UK.

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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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Currency Volatility Destroys Companies Profits

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.

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Japanese yen rises for a second day

The Yen rose for a second day in a row against the US Dollar as the machinery order stagnated in July. This brought new concerns about whether the Prime Minister Shinzo Abe will introduce the expected increase of the sales tax and to what extend will this slow down the Japanese economy. Japan’s currency rose 0.3 percent to 99.58 per dollar at 8:33 a.m. in New York. After depreciating to 100.61 yesterday, the weakest level since July 22. The Yen advanced 0.6 percent to 132.16 per euro after strengthening 0.2…

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