Specialist insight, issue 2
Dollar movements mean UK businesses trading with The States could foot bill equivalent to VAT
The recent announcement that the US dollar had reached an exchange rate of two dollars to the pound saw FX trading hit a long speculated ‘milestone level’ and was welcomed by UK businesses who import goods and services in US dollars. However, hitting this peak highlights the volatility of the once stable ‘buck’ and should be taken as a warning. TFX experts point out that the recent peak marks a 17.5% fluctuation in the dollar rate since early 2006, therefore businesses without a currency strategy are at risk of losing margin equivalent to VAT levels. To read the full article click here
How did the dollar movement effect your business? Find out here.
Debate Summary: FX Volatility: Is it a cost, a risk or an opportunity?’
On Wednesday 25th April senior executives from Boxfresh International, Dreams, Feather & Black, Harvey Nichols, Lee Cooper, Lombok and HMV joined a round table debate on evaluating FX volatility at London’s exclusive Soho House. Chris Towner, Director of Advisory Services of HiFX, facilitated the debate touching on some of the key issues companies face with managing their foreign exchange exposure. The breakfast briefing was held in association with HiFX.
To download a PDF summary of the breakfast click here.
The Impact of Globalisation on the UK Economy: A Thought Leadership Workshop
Long term strategies in a volatile FX market – separating the facts from fiction
This complimentary event, which is being hosted by International Trade Today and HiFX, will be held on Thursday 7th June in London and is designed to bring together leading executives to discuss and debate some of the key issues surrounding globalisation, specifically the risks to which liberalisation of the global market place is exposing organisations.
Speaker line up includes
- Lord Lamont, Former Chancellor of the Exchequer
- Neil Stockton, Finance & Commercial Director, LOMBOK
- Tony Brown, Finance Director, Universal Cycles
- Ian Campbell, Consultant Editor, International Trade Today
- Barbara Scott, Customs Consultant, Mike Hodge Associates
- Shaun Purrington, Regional Director, Atradius Credit Insurance NV
This morning only event will follow an interactive format and provide a networking forum for senior executives and industry experts to share insight and knowledge.
HiFX Financial Services Ltd is a registered company No. 5448864 to Morgan House, Madeira Walk, Windsor, Berkshire, SL4 1EP. Authorised and regulated by the Financial Services Authority FSA No. 446302