Posts Tagged ‘ Sterling ’

The Foreign Exchange Business

forex

The Forex market is a global and open market that is used to trade foreign exchange currencies.  Currency exchange operations in the Forex market take place on a 24 hour basis with the exception of the weekends.

In international business, currency conversion is required on a daily basis.   Global Financial Centres such as London, New York, Hong Kong act as hubs for buyers and sellers to trade in financial instruments.  Typically, the income for such FX trades comes from the largest players in the financial market like  BNY Mellon, Goldman Sachs and Citi.    Traders deal Dollars, Euros, Yen etc. on behalf of investors (the investor profile typically being large institutions). Continue reading

Scotland Must Ditch Pound If Independence Is Gained

scottishflag

Seven months remain between now and referendum day, when Scots will be asked ‘should Scotland be an independent country?’. Whilst the No campaign – or ‘better together’, a cross-party alliance between Conservatives, Labour, and the Liberal Democrats – have the upper hand in most polling data, the sizeable number of Scots who are ‘don’t knows’ ensures that the result of the referendum, and the future of the United Kingdom, is all to play for.

The issue of currency has been a key battleground between the two sides of the campaign. Before the collapse of the Eurozone, the Scottish National Party (SNP) argued that an independent Scotland – like Ireland – would join the European common currency. With that option now politically dead in the water, the SNP have since argued that the pound sterling could be retained in a UK currency union. Continue reading