Corporate foreign exchange news

'Positive outlook' for UK businesses

Thursday, 23 June 2011 09:07:02 GMT

Published by Zeb Bham
Businesses may find corporate foreign exchange rates are done little harm by figures which indicate that demand held steady this month.
According to research conducted by the CBI, the situation remains positive with 27 per cent of respondents stating the overall number of orders they received were "above normal", while 26 per cent thought the opposite.
The different of one per cent between the figures is more positive than the long-term average of -18 per cent.
CBI chief economic adviser Ian McCafferty said: "Inflationary pressures remain acute. High commodity prices and import costs mean firms still expect to raise factory gate prices markedly over the next three months."
He added that UK firms are currently largely benefiting from "healthy order books".
Meanwhile, the euro has risen versus the pound. This follows comments made earlier this week by Sara Yates and David Forrester, currency strategists at Barclays Capital, who told Marketwatch the currency was likely to "steady" once additional funding had been granted to Greece.
For more information on foreign exchange treasury services and risk management, visit our Corporate FX site ADNFCR-2522-ID-800591382-ADNFCR
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