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Currency update, September 9: investors take a risk

Published:  09 September, 2010

Currency update for September 9 from Smart Currency Exchange: sterling recovered from six week lows against the US dollar after strong housing data and stock market strength that saw global investors buy into riskier assets.

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Wine industry toasts IWC award winners

Published:  08 September, 2010

Marks & Spencer collected the Supermarket of the Year Award for the third year running at the International Wine Challenge awards dinner last night.

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Morgenrot takes on Bodega Cruz de Piedra

Published:  08 September, 2010

The Morgenrot Group, is adding to its Argentine wine portfolio after being appointed UK agent for Bodega Cruz de Piedra.

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WSTA warns against local action for below cost selling

Published:  08 September, 2010

The Wine and Spirit Trade Association has called for national solution on below cost selling as local agreements would cause "confusion for consumers and chaos for businesses".

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Currency update, September 8: sterling falls due to European banking concerns

Published:  08 September, 2010

Sterling fell to a 6 week low against the US dollar yesterday after concerns over the European banking sector and financial difficulties in the housing sector.

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Moreno takes on historic Chilean winery

Published:  08 September, 2010

Moreno Wines has taken on the UK agency for Chilean winery Undurraga.

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Wine industry toasts IWC award winners

Published:  08 September, 2010

Marks & Spencer collected the Supermarket of the Year Award for the third year running at the International Wine Challenge awards dinner last night.

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'One in three aims to get drunk' - Drinkaware

Published:  07 September, 2010

More than one in three young adults go out drinking with the specific intention of getting drunk, according to research for the alcohol awareness charity Drinkaware.

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Currency update, September 7: sterling has difficult seven days

Published:  07 September, 2010

Sterling has had a difficult seven days with the release of poor UK economic data raising significant concerns on the UK's recovery.

 

Currency Rates
EURO/GBP - 1.206
US$/GBP - 1.538
CHF/GBP - 1.558
CAN$/GBP - 1.601
AUS$/GBP - 1.689
ZAR/GBP - 11.195
JPY/GBP - 129.03
HKD/GBP - 11.950
NZD/GBP - 2.133
EURO/US$ - 1.275
HUF/GBP - 345.05

 

On Thursday we have the Bank of England meeting and sterling is being undermined by the worry that the BoE may revisit their programme of quantitative easing given the poor data. This has been on hold since the last quarter of last year and in the past when utilized has led to sterling losing value.

 

Sterling continues to hover around the €1.20 level which is a key level of support. Economic data following the summer season is in short supply. The German economy is still the key driver for the euro zone and so long as this keeps on moving forward then we will see support for the euro.

 

As highlighted yesterday economic data out of the US has been mixed and a bit like the UK the markets are wondering what this means with regard to quantitative easing. The Federal Reserve meets later this week and just like here in the UK the markets are nervous as to what may happen. So this week although starting quietly on the data front could have a highly volatile ending.

 

Commodity backed currencies continue to gain on the back of increase investor confidence. The Far East seems to be moving forward while the western world falters.

 

Smart Currency Exchange is a currency partner to Harpers Wine and Spirit. Harpers Wine and Spirit has teamed up with Smart to provide readers with a free bespoke currency service.

 

If you are making or receiving international payments and are interested in talking to Smart please go to:  www.SmartWineSpirits.com to get a FREE no obligation quote or to download the Smart Wine and Spirit report. Alternatively call Smart on 0207 898 0500.

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Lisa McGovern resigns from Wine Australia

Published:  07 September, 2010

The regional director of Wine Australia UK, Ireland and the EU, Lisa McGovern has resigned.

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International Grenache Day launches

Published:  07 September, 2010

The diversity of Grenache will be on display as restaurants, wine merchants and producers celebrate the virtues of the world's most widely planted red grape.

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Restaurant discounts of limited appeal

Published:  07 September, 2010

The latest research from market analyst Horizons shows that restaurants could be wasting their time and money issuing discount vouchers.

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Wines in the press - September 2-5

Published:  07 September, 2010

The Guardian
Victoria Moore found herself staring into a glass of Champagne the other day, wishing she was drinking something else.

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Coe Group of Companies announces structure and personnel changes

Published:  06 September, 2010

The Coe Group of Companies has announced a number of changes across its portfolio in structure and personnel.

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USA still work in progress for European sparkling wine

Published:  06 September, 2010
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ACS calls for a credible floor price for alcohol

Published:  06 September, 2010

Banning below cost sales based on a floor price of duty plus VAT is not credible, warns the Association of Convenience Stores.

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Currency update, September 6: sterling suffers as economy runs out of steam

Published:  06 September, 2010

Sterling suffered last week as fundamental data showed signs that the UK recovery is abruptly running out of steam.

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Leading winemakers join the line-up at Harpers Global Wine Conference

Published:  05 September, 2010

Leading winemakers from Australia and Chile will take part in an industry question and answer session at this week's Global Wine Conference being held by Harpers Wine & Spirit.

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Veuve du Vernay partners with French Connection

Published:  03 September, 2010
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Nine new MWs announced

Published:  03 September, 2010

The Institute of Masters of Wine has announced nine new Masters of Wine to its membership following the results of its 2010 examination.

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