“Often people know their business but they may not know currency and appreciate the importance of what effect foreign exchange markets can have on their market,” Fullerton says. “If you don’t know what exchange rate you’re playing around with, your profit can be a lot or a little.” Sterling has risen against the dollar and the euro today but Fullerton believes it may struggle for a time yet. “The euro seems to be fairly steady,” he says. “It hasn’t benefited from the up but it’s benefiting from the down. “The EU has its eye on the ball with regards management of the economy. There isn’t a culture of debt there. That’s the main problem here. We’ve seen people borrowing excessively, fostering a culture of credit. It’s all come to a head.” Related articleStreetwise: know how to dupe the dollarUnspun: have you hedged yet? Picture source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.