Articles - Lumon

Sterling falls behind as the Fed hikes and the Bank of England holds

Last week delivered the central bank action markets had been building towards for months. The Federal Reserve raised interest rates for the first time since 2023, and the Bank of E...

Sep 21, 2026·3 min read

Market insights

ECB hikes again as Fed and Bank of England decisions land this week

This week brings the closest thing currency markets have seen to a synchronised central bank moment in some time. The European Central Bank raised interest rates again last Thursda...

Sep 14, 2026·3 min read

September FX briefing: : the rate decisions driving GBP, EUR and USD

The FX market heads into September focused on three major central‑bank decisions falling within eight days. Between 10 and 17 September, the ECB, the Fed and the BoE will each meet...

Sep 1, 2026·5 min read

Market insights

Dollar regains its footing as sterling retreats from three-month highs

It has been a fast-moving fortnight in currency markets. Sterling touched a three-month high against the dollar in mid-August, only to give back much of that move after Federal Res...

Sep 1, 2026·4 min read

Market insights

Sterling firms as all eyes turn to Jackson Hole

Sterling had a firm week, supported by hotter than expected UK inflation and a surprisingly strong reading on the services sector, while a broadly softer dollar gave GBPUSD further...

Aug 24, 2026·3 min read

Food & beverage

Growth, risk and profitability in food and drink: A Lumon podcast

Drawing on insights from 100 of the UK's most ambitious food and drink exporters, this podcast explores the pressures behind their growth ambitions. Listen as Lumon's Louis White a...

Aug 20, 2026·1 min read

Market insights

Sterling climbs to three-month highs as the dollar retreats

Sterling starts the week close to its best levels of 2026 against both the dollar and the euro. A retreating US dollar and resilient UK growth have combined to lift GBPUSD to three...

Aug 17, 2026·3 min read

Market insights

Dollar knocked by a shock US jobs report

The pound ended last week on the front foot after a surprisingly weak US employment report undermined the dollar. US payrolls unexpectedly fell in July, the first outright decline...

Aug 10, 2026·3 min read

August FX briefing: Sterling rises as the dollar stalls

July started with a Middle East peace deal and falling oil prices, then swung hard on oil volatility through the month. The result: the dollar's worst month since April, sterling's...

Aug 6, 2026·3 min read

Market insights

Sterling holds gains after a hawkish central bank week

Sterling ended last week firmer after both the Federal Reserve and the Bank of England held rates but leaned hawkish. The Fed held in a 9-3 vote with three members favouring a hike...

Aug 3, 2026·3 min read

Market insights

Central banks take center stage after sterling’s pullback

Sterling snapped a three-week winning run last week, slipping around 1% against the US dollar and losing ground against the euro for four consecutive sessions. Softer June inflatio...

Jul 27, 2026·3 min read

Changing of the guard: Navigating currency risk in Q3 2026

Q3 at a glance: politics resets the risk map Markets entered Q3 2026 with two overlapping stories still working themselves out. The first was a fragile ceasefire in the Middle...

Jul 22, 2026·13 min read

Managing FX risk

Why the loudest headline is rarely the right hedge signal

A new Prime Minister. A new Fed chair delivering a hawkish surprise. A ceasefire that held for weeks and then didn't. Q3 has produced no shortage of moments that felt, in the room,...

Jul 20, 2026·3 min read

Market insights

Sterling extends gains as leadership settles

Sterling carried its momentum through last week, supported by a smooth political transition at home and a softer inflation picture in the US. With a run of UK data and a European C...

Jul 20, 2026·3 min read

Food & beverage

FX risk management for food and beverage businesses: what a structured approach looks like

You know what your ingredients cost. You don't know what they'll cost in sterling until the invoice is due. For many food and beverage businesses, supplier invoices aren't just a m...

Jul 14, 2026·9 min read

Market insights

Sterling strengthens as the political picture clears

The pound extended its recent rally last week, with GBPEUR rising around 0.6% to its strongest level in twelve months and GBPUSD gaining roughly 0.5% to touch a three-week high. Ma...

Jul 13, 2026·3 min read

Market insights

Dollar under pressure after weak US jobs data

The US dollar heads into the new week on the back foot after posting its largest weekly loss in three months, handing sterling and the euro some welcome breathing room. With centra...

Jul 6, 2026·5 min read

Managing FX risk

Four questions to ask to find the right FX provider for your business

Protecting margins, managing cash flow more predictably and lowering friction with overseas payments – all are top priorities for any globally trading business. And all hinge on on...

Jul 6, 2026·4 min read

Managing FX risk

How exchange rates affect international business payments

Imagine that a supplier invoice arrives. And while the amount due hasn't changed, the cost to your business has.For small businesses with international exposure, this might sound f...

Jul 6, 2026·5 min read

Managing FX risk

FX Order types

FX order types You know the rate that would protect your margins. The question is whether you're in a position to act on it when it's available. For most businesses, the answer dep...

Jul 6, 2026·3 min read

Managing FX risk

What drives sterling and what that means for your margins

Sterling doesn't move in a vacuum. Understanding what's driving it is the starting point for managing what it costs you. This is a guide to three currency pairs commonly affecting...

Jul 6, 2026·3 min read

Managing FX risk

The FX terminology you need to know

If your business makes international payments, pays overseas suppliers or receives revenue in foreign currencies, understanding FX terminology directly affects the decisi...

Jul 6, 2026·5 min read

July FX briefing: geopolitics and Fed policy boosts the dollar

If your business carries exposure across sterling, euros or dollars, June was an active month. All three shifted on the back of Middle East instability, softening eurozone growth B...

Jul 1, 2026·5 min read

Market insights

Hawkish Fed and potential peace in the Middle East lifts the dollar

Monetary policy in Europe and the US may be diverging, with the US (perhaps surprisingly) looking to take a more hawkish stance. The difference could spur money market volatility....

Jun 29, 2026·2 min read

Why your commodity cost problem is really an FX problem

You've been watching the commodity markets. Some ingredients might be up, others easing, but it’s the unpredictability itself that’s become the problem. You've had the difficult co...

Jun 25, 2026·5 min read

Market insights

Dollar recovers as US-Iran deal proves fragile. Starmer resignation hits sterling.

The dollar recovered strongly last week and starts this week close to a one-year high, while sterling has come under fresh pressure after Keir Starmer announced his resignation as...

Jun 22, 2026·4 min read

Managing FX risk

How interest rates affect exchange rates and business costs

For businesses that import, export or operate internationally, interest rate decisions can affect more than borrowing costs. They can also influence foreign exchange (FX) rates, wh...

Jun 17, 2026·9 min read

Market insights

Potential peace deal with Iran? Plus, back-to-back rate decisions from the Fed and the Bank of England this week.

This week has the makings of one of the most consequential periods for currency markets in recent months — and for businesses with international exposure, it's worth paying close a...

Jun 15, 2026·4 min read

Food & beverage

When seasonality in the food supply chain fails

How food businesses can stay ahead of unexpected import needs Food businesses can spend weeks securing replacement stock after a supply disruption, only to discover that exchange r...

Jun 10, 2026·8 min read

Market insights

What the Makerfield by-election means for UK businesses and the pound

The knife-edge contest in Makerfield on 18 June won’t just be one of the most important UK political events this century – FDs and CFOs could wake up on 19 June to discover volatil...

Jun 9, 2026·5 min read

Market insights

US economic resilience weighs on euro

The US labour market is proving resilient, lifting the dollar and putting pressure on European currencies. Investors looked to the dollar last week as stronger-than-expected jobs d...

Jun 8, 2026·2 min read

June FX briefing: the May drivers aren’t done yet

If your business carries exposure across sterling, euros or dollars, May was an active month. All three shifted on the back of Middle East instability, softening eur...

Jun 3, 2026·4 min read

Market insights

Rising inflation and muted growth dominate EU Spring forecast

The EU’s Spring Economic Forecast is downgrading growth as inflation gathers pace. The likelihood of interest rate rises, and exchange rate volatility, has risen as a result. The E...

Jun 1, 2026·2 min read

Market insights

Markets take heart at possibility of peace

European currencies were buoyed by progress in negotiations to end the Middle East war over the weekend, though a peace deal remains elusive. There were signs of progress on a peac...

May 26, 2026·2 min read

Food & beverage

The FX costs you are overlooking in your frozen food supply chain

Every year, UK businesses spend £374 million importing frozen vegetables — and a portion of that value is exposed to currency risk before it ever reaches the balance sheet. Supply...

May 26, 2026·5 min read

Managing FX risk

When does currency exposure cost your business money?

Any business operating across borders is exposed to currency movements. Even small shifts can affect margins, influence cash flow and make financial planning more complex. Currency...

May 20, 2026·9 min read

Market insights

Starmer’s ongoing troubles undermine sterling

Last week it was about poor local election results. This week it’s the possibility of a leadership challenge. UK political turmoil continues to weigh on the pound The pound slumped...

May 18, 2026·2 min read

Food & beverage

Disruption is now the default: what should food & drink leaders do about it?

The past six years have tested food and drink businesses in ways few could have predicted. A pandemic disrupted supply chains overnight. An energy crisis drove up processing, ...

May 12, 2026·5 min read

Market insights

Political turmoil in the UK could spell problems for the pound

Poor local election results for the governing Labour party could have repercussions for money markets In the UK, last week’s local elections saw the governing Labour party lose a s...

May 11, 2026·3 min read

Food & beverage

What May’s FX volatility could mean for your food and beverage business’ margins

May looks set to be another volatile month for currency markets. Ongoing tensions in the Middle East remain the dominant macro risk, particularly for food and beverage businesses e...

May 7, 2026·4 min read

Market insights

May could see calls for interest rate hikes if the Middle East stand-off continues

What happened in April?  FX markets reacted to ongoing uncertainty in the Middle East, but after making significant gains in March the dollar fell back. Euro strengthens as c...

May 6, 2026·3 min read

Market insights

Oil rises again as interest rates hold steady

Central banks in the EU, US and UK kept interest rates steady last week as they assess the economic fallout from the continuing US-Iran war Crude oil prices fell late last week but...

May 5, 2026·2 min read

Market insights

Interest rates likely to remain unchanged this week – but for how long?

The US-Iran war is creating inflationary pressures that may push up interest rates before the year is out It was a bruising week for economies on both sides of the Atlantic as the...

Apr 27, 2026·3 min read

Managing FX risk

Why the news cycle could be costing you more than you realise

The past six years have presented a series of challenges for businesses managing currency exposure. A pandemic, an energy crisis, a trade war, and now a conflict in the Middle East...

Apr 23, 2026·3 min read

Market insights

Strait of confusion – is the Hormuz trade route open or not?

We’re back to ‘is it or isn’t it’ as both sides in the US-Iran war make conflicting claims about the state of the current ceasefire. Peace negotiations may move markets this week -...

Apr 20, 2026·2 min read

Lumon updates

Announcement: Lumon agrees to acquire Fiscal FX

We are pleased to announce that Lumon has agreed to acquire the business and assets of Fiscal FX, a London-based foreign exchange and international payments specialist. Founded in...

Apr 20, 2026·1 min read

Managing FX risk

Currency forward contracts vs futures contracts: key differences

What’s the difference between currency forward and futures contracts? Currency forward contracts and futures contracts are both used to manage exchange rate risk by locking in a pr...

Apr 15, 2026·9 min read

Market insights

Oil prices likely to rise again as peace talks falter

Energy prices are once again in the spotlight after peace talks between the US and Iran broke down and President Trump threatened his own blockade of the strait of Hormuz. Inflatio...

Apr 13, 2026·2 min read

Food & beverage

Food and beverage margin pressure: rising costs and how businesses can respond

Understanding cost pressures and how businesses can respond The food and beverage sector has long operated on tight margins, but for many businesses those margins are under increas...

Apr 8, 2026·8 min read

Market insights

Jobs data and Iran war support a strengthening dollar

The economic impact of the Middle East conflict is beginning to bite, with potentially significant consequences for money markets The dollar continued to strengthen last week as co...

Apr 7, 2026·2 min read

Food & beverage

Why geopolitical turbulence is rewriting the FX playbook for food & drink manufacturers

The food and drink manufacturing sector is entering a period where currency risk has become impossible to ignore. The global trading landscape is shifting faster tha...

Apr 2, 2026·4 min read

Market insights

Energy premiums, global conflict and inflationary pressures: the April FX outlook for food and beverage businesses

The conflict in the Middle East is creating exchange rate volatility and inflationary pressures and could send costs spiralling for food and drink businesses on both sides of the A...

Apr 1, 2026·3 min read

Market insights

Confusion in the Middle East spooks markets

Nobody knows whether the US is preparing for a ground invasion of Iran or hoping for a negotiated peace, creating economic uncertainty and money market volatility President Trump c...

Mar 30, 2026·3 min read

Market insights

Will “Trumpflation” create money market chaos?

Conflict in the Middle East is already pushing up the cost of living in countries around the world, with Europe hard hit. Economists warn that it could get much worse if the war ru...

Mar 23, 2026·2 min read

Market insights

Dollar strengthens as Middle East conflict escalates

With no signs of de-escalation and the Strait of Hormuz closed to most shipping, money markets are betting on the dollar The conflict in the Middle East continues to reverse gains...

Mar 16, 2026·3 min read

Market insights

Conflict in the Middle East sends tremors through currency markets

Investors worry that the war in the Middle East could lead to inflationary pressure and tighter monetary policy. For now, the dollar is benefiting from its safe haven status Oil an...

Mar 9, 2026·2 min read

Market insights

FX markets eye Middle Eastern conflict this March

What happened in February? February saw currency markets reacting to conflicting economic data, new trade tariffs and geopolitical tension. The dollar finished the month...

Mar 4, 2026·4 min read

Market insights

Middle East tensions unsettle FX markets

Rising tensions in Iran have intensified global uncertainty, prompting risk-off sentiment that is weighing on GBP exchange rates Investors may look to safe haven assets like gold i...

Mar 2, 2026·2 min read

Market insights

Trump’s new tariffs signal a return to uncertainty

After the US Supreme Court overturned previous tariffs, President Trump imposed a blanket 15% levy on all imports to the US. Tariffs increase costs for businesses and consumers and...

Feb 23, 2026·2 min read

Market insights

The UK’s sluggish growth may prompt earlier rate cut

Data showed that economic recovery in the UK is fragile, cutting the odds of further monetary easing in the short term Figures released last week painted a picture of fragile econo...

Feb 16, 2026·2 min read

Market insights

Starmer’s woes force a sterling retreat

The pound slides after questions over Keir Starmer’s leadership spook money markets Exchange rate volatility often happens as a result of political turbulence so investors will be...

Feb 9, 2026·2 min read

Market insights

The dollar’s struggles are far from over this February

What happened in January? After making significant gains against the dollar last year, and outmuscling the pound, the euro continued to make gains in the first month of 2026. Euro...

Feb 4, 2026·4 min read

Market insights

Will a new Fed chair cause money market volatility?

President Trump nominated a new Federal Reserve (Fed) Chairman who could drive faster, deeper rate cuts President Trump has nominated Kevin Warsh, an outspoken critic of the centra...

Feb 2, 2026·2 min read

Market insights

Tariff threat recedes but tensions remain

Money markets rewarded European currencies after President Trump retracted his tariff threat on Nato allies President Trump retracted his threat to impose tariffs on imports from e...

Jan 26, 2026·2 min read

Managing FX risk

Internal misalignment could be your largest currency risk in 2026

FX risk is now embedded in most commercial decisions UK firms make, yet many are entering 2026 without a single source of truth for how that exposure should be created, measured or...

Jan 23, 2026·3 min read

Market insights

A week of political turmoil threatens exchange rate volatility

President Trump rounded on European allies over Greenland while his administration started a criminal investigation against the country’s central bank chief The Trump administratio...

Jan 19, 2026·2 min read

Market insights

Powell inquiry creates exchange rate turbulence

The dollar had made gains against both the euro and sterling in the first week of 2026, but news of a Justice Department inquiry into US Federal Reserve (Fed) chairman Jerome Powel...

Jan 12, 2026·2 min read

Market insights

The euro dips after a strong 2025

The euro has weakened at the start of 2026 but it could be another strong year for the EU currency, as the US and UK continue their rate cutting journeys Last year: Last year was t...

Jan 5, 2026·2 min read

Market insights

UK interest rates fall but decision tighter than expected

The Bank of England’s Monetary Policy Committee was split 5-4 in favour of an interest rate cut last week. Latest insights: In a widely expected move, policymakers in the UK cut in...

Dec 22, 2025·2 min read

Market insights

Is a UK interest rate cut now nailed on?

Surprisingly poor GDP figures make a UK interest rate cut this week highly likely Latest insights: A UK December interest rate cut now looks a near certainty after figures released...

Dec 15, 2025·2 min read

Market insights

December interest rate cuts on the cards

Expectations are growing that policymakers in both the US and UK will cut rates this month Latest insights: The pound’s minor post-budget boost continued last week as it strengthen...

Dec 8, 2025·2 min read

December 2025 Monthly market moves web tile)

Market insights

After a turbulent 2025, FX markets look ahead to December and beyond

What happened in November?  Sterling sentiment dominated by the Budget in the UK It was a month of “will she, won’t she” in the UK as investors tried to second guess Chancell...

Dec 3, 2025·5 min read

Market insights

Markets react calmly to Reeves’ pivotal budget

The UK budget has caused a political storm but market reaction to last week’s announcement has been muted Latest insights: The budget had the potential to cause significant nervous...

Dec 1, 2025·2 min read

Market insights

Markets and businesses await budget details

After weeks of rumours, hints and U-turns, the UK government’s tax and spending plans for the year ahead will be revealed on Wednesday. It’s a pivotal announcement that will impact...

Nov 24, 2025·2 min read

Market insights

The Autumn Budget Watch

Ahead of the Autumn Budget announcement on Wednesday 26 November, we will be posting ongoing updates, commentary, and market reactions as the Chancellor’s announcements unfold. 20/...

Nov 20, 2025·5 min read

Market insights

Reeves U-turns over Budget income tax rises

The UK Chancellor looks to have stepped back from direct income tax increases, but her indecisiveness has unnerved investors Latest insights: After spending the last few weeks prep...

Nov 17, 2025·2 min read

Market insights

Is a UK budget tax hike now inevitable?

The Chancellor’s appeal to ‘national interest’ may be preparing the country for tax rises Latest insights: It seems increasingly clear that Chancellor Rachel Reeves is preparing to...

Nov 10, 2025·2 min read

Managing FX risk

Systematic and flexible: why your 2026 FX strategy needs to be both

Faced with setting a 2026 FX strategy, most businesses will default to 'staying flexible'. They want to avoid firm commitments given the uncertainty across the sterling, dollar and...

Nov 6, 2025·3 min read

Market insights

Fiscal policy dominates global FX outlook this November

What happened in October?  The dollar strengthened against both our European currencies in October, while sterling fell against the euro.  Pound edges lower October was...

Nov 5, 2025·4 min read

Market insights

UK government eyes budget tax hikes

The government has refused to rule out tax rises in the budget as it seeks to close the UK’s fiscal gap. Latest insights: Tax rises can help to cool inflationary pressures and brin...

Nov 3, 2025·3 min read

Market insights

The UK economy offers up a mixed picture as Autumn budget looms

Inflation is steady but other indicators give cause for concern as the countdown to the UK’s Autumn budget begins Latest insights: Chancellor Rachel Reeves is facing mixed economic...

Oct 27, 2025·3 min read

Market insights

The US-China showdown continues as November deadline nears

100% tariffs on all Chinese imports to the US are scheduled to start on the 1st of November, even after Trump calls them unsustainable Latest insights: Trump acts to reassure marke...

Oct 20, 2025·2 min read

Managing FX risk

Planning budget rates for an unpredictable year: 5 essential elements

Most businesses with international exposure have some approach to managing FX risk, even if informal. But despite currency movements directly impacting pricing, supplier contracts...

Oct 16, 2025·2 min read

Market insights

US-China trade war fears return to spook markets

President Trump has threatened new tariffs on Chinese imports, causing money market fluctuations Latest insights: Investors braced for market turmoil at the end of last week as Pre...

Oct 13, 2025·2 min read

Managing FX risk

Currency risk management strategies: If currency movements can derail your commercial strategy, FX is not just a finance issue

Currency risk management strategies belong in the boardroom. If your business faces foreign exchange (FX) exposure, you may feel that dealing with it is a treasury or finance func...

Oct 8, 2025·9 min read

Market insights

French political turmoil drags the euro down

The resignation of the French prime minister - the third in a year - is worrying businesses and investors across the eurozone Latest insights: The prolonged turmoil afflicting Fren...

Oct 6, 2025·2 min read

Market insights

New pharmaceutical tariffs threaten economic stability

Trade uncertainty returned as President Trump’s threat to hit foreign drugmakers with huge tariffs made money markets jittery Latest insights: Tariffs can be inflationary, which ca...

Sep 29, 2025·2 min read

Market insights

Dollar rises as Powell states future cuts are not set in stone

The Fed’s long-awaited interest rate cut finally arrived last week, giving the dollar a much-needed lift and driving exchange rate movements Market Recap: The dollar experienced a...

Sep 22, 2025·2 min read

Market insights

Pound remains strong despite weak data

Economic fragility in the UK was underlined last week by disappointing data, while markets await monetary policy decisions in the US and UK Market Recap: Despite an underwhelming U...

Sep 15, 2025·2 min read

Market insights

Dollar under fire: Shanghai Bloc shakes markets as euro and pound climb

The Shanghai Cooperation Organisation pushes a dollar alternative, while weak US jobs data boost the euro and pound amid global economic uncertainty. Market Recap: The latest summi...

Sep 8, 2025·2 min read

Eurozone flag on green and blue background, with text reading 'will the euro keep up its rally?'

Market insights

Will the euro’s rally drive forward into September?

While August offered fewer tariff shocks than in previous months, forces shaping global currencies are still in play: shifting central bank strategies, fragile economic recoveries,...

Sep 3, 2025·4 min read

Market insights

Interest rates in Europe and the US: a contrasting picture

The Fed looks likely to finally start easing in September, while Europe and the UK hold steady Market Recap: Tariffs led the news again last week after President Trump imposed a 50...

Sep 1, 2025·2 min read

Market insights

The pound gains ground on the back of better economic data

Sterling strengthens against the dollar and the euro and US policymakers eye interest rate cuts. Market Recap: It was a good week for the pound, which hit its highest level against...

Aug 18, 2025·2 min read

Market insights

China/US trade back in focus as inflation fears return

Inflationary pressure in the UK and US may impact exchange rates this week Market Recap: Tariffs remain on the agenda this week as the 90-day pause in trade hostilities between the...

Aug 11, 2025·2 min read

Market insights

FX market eyes trade deals and tariffs for August

What happened in July? Tariffs get real July was the month when the tariff threat became the tariff reality. US President Donald Trump had been imposing, delaying and re-imposing...

Aug 5, 2025·4 min read

Market insights

Disappointing US jobs data boosts euro and pound

Market Recap: Signs of a cooling US economy are worrying investors and may move currency markets this week. US nonfarm payrolls rose by 73,000 in July, well below expectations. Thi...

Aug 4, 2025·2 min read

International cargo ship crossing the sea

Managing FX risk

Currency exchange risk in international growth: how to expand without losing margin

Expanding your business internationally is a powerful catalyst for growth, opening up access to new markets, boosting your revenue potential and unlocking opportunities for cost re...

Jul 31, 2025·8 min read

Market insights

Markets digest EU/US deal and eye inflation data

Market Recap: Money markets may move this week as investors sift the fallout from the EU/US trade deal Currency's shift following tariff deal: After a relatively subdued week marke...

Jul 28, 2025·2 min read

Market insights

The dollar strengthens amid mixed economic messages from Europe

Market Recap: Eurozone leaders are hoping for a tariff deal with the US, while markets digest contrasting economic data. Markets eye tariff talks as deadline looms: As the 1 August...

Jul 21, 2025·3 min read

Managing FX risk

FX exposure: 5 warning signs your business might be at risk

What is FX exposure and why is it often overlooked If you pay suppliers or service providers overseas or invoice foreign customers, you face potential foreign exchange (FX) exposur...

Jul 17, 2025·10 min read

Market insights

Trump tariffs return to unnerve markets

Market Recap: Investors brace for impact as new US tariffs take aim at the EU and Mexico, while key inflation and earnings data could also move markets this week. Trump takes to so...

Jul 14, 2025·2 min read

Market insights

Trump’s delay of tariff deadline offers brief FX relief, but transatlantic volatility still looms

Market Recap: Despite President Trump’s decision to delay tariffs until the start of August, markets remained volatile amid unresolved US-EU trade tensions, fiscal uncertainty from...

Jul 7, 2025·3 min read

Market insights

With the dollar sliding against pound and euro, is it a safe haven anymore?

Market Recap: The dollar weakened sharply last week despite initial gains as market focus shifted to concerns over US fiscal policy, potential Fed rate cuts, and strong economic pe...

Jun 30, 2025·3 min read

Market insights

Conflict in the Middle East ignites inflation fears

Market Recap: Exchange rate fluctuations can be expected this week as investors react to US military involvement in the oil-rich region, favouring safe haven assets. US involvement...

Jun 23, 2025·3 min read

Market insights

Geopolitical tensions and economic worries rattle markets

Market Recap: Escalating conflict between Israel and Iran, combined with weak UK economic data and upcoming US and UK interest rate decisions, has heightened market uncertainty, im...

Jun 16, 2025·2 min read

Market insights

Markets focus on inflation and GDP data as tariff storm calms

Market Recap: Tariffs continue to dominate sentiment but a quieter week in US-EU-China trade relations boosted the dollar, while key economic indicators from the US and UK could dr...

Jun 9, 2025·2 min read

Managing FX risk

Hedging strategies for SMEs: How to manage currency risk and protect your margins

Most large companies exposed to exchange rate volatility choose to hedge against currency risk by using hedging strategies. Most SMEs don’t. If you’re a small or medium-sized busin...

Jun 5, 2025·8 min read

Managing FX risk

How to identify and measure foreign currency risk: a guide for SMEs

As we all know, exchange rates fluctuate all the time.1 The pound can rise in value compared to the dollar one day, and fall the next. These constant shifts create what's known as...

Jun 5, 2025·8 min read

Market insights

On-again, off-again tariffs expected to drive FX volatility in June

What happened in May?  Trade war fears fall – and rise  After a turbulent April on the money markets driven by President Trump’s “liberation day” tariff announcement, May...

Jun 4, 2025·4 min read

Market insights

Tariff threats: rinse and repeat

Market Recap: As China and the US trade accusations of tariff violations, the spectre of a global trade war is again spooking investors and markets Last week President Trump impose...

Jun 2, 2025·2 min read

Market insights

Transatlantic trade war fears reignite market volatility

Market Recap: Market stability amid policy shift: Markets were largely becalmed for much of last week as investors digested what appeared a significant relaxation in the Trump admi...

May 27, 2025·2 min read

Market insights

Dollar rises on tariff pause, but doubts remain

Market Recap: Caution returns to money markets after China/US tariff pause: The dollar was boosted by the easing of trade war tensions between the US and China, but investors remai...

May 19, 2025·2 min read

Market insights

De-escalation in the US/China trade war boosts dollar

Exchange rates steadied last week but a China/US tariff agreement and key economic indicators could drive volatility in the next few days. Market Recap: Investors look to China/US...

May 12, 2025·2 min read

Market insights

Dollar holds steady as markets await interest rate decisions

The US dollar stabilised last week following strong jobs data and easing trade tensions, but uncertainty remains as markets brace for upcoming central bank interest rate announceme...

May 6, 2025·2 min read

Market insights

All eyes on the US as the dollar slides and traders await Q1 GDP growth estimates

While the tariff threat has slightly declined, markets remain skittish amidst continuing trade war worries, with the pound and euro performing strongly against the dollar. Market R...

Apr 28, 2025·2 min read

Market insights

The dollar continues its downwards trajectory

The dollar fell against the euro and pound as US policies continued to impact markets, while the European Central Bank (ECB) cut rates and the UK received an inflation boost. Marke...

Apr 22, 2025·1 min read

Market insights

A week of turmoil as tariffs continue to dominate

Tariff tensions fuelled currency volatility, with the dollar sliding, the euro hitting multi-year highs, and sterling fluctuating on UK growth and uncertainty. Market Recap: Key Mo...

Apr 14, 2025·2 min read

Market insights

Trump tariffs send shockwaves around the globe

Last week was dominated by the lead up to Trump’s “Liberation Day” tariffs. This week is likely to be dominated by their aftermath. Uncertainty is the dominant sentiment. Market Re...

Apr 7, 2025·2 min read

Market insights

Weekly FX Outlook: U.S. Jobs Data & Global Risks to Drive Markets

Last week saw GBP weaken on economic stagnation, USD rise on safe-haven demand, and EUR hold firm on European Central Bank policy. This week, markets will focus on U.S. jobs data,...

Mar 31, 2025·3 min read

Market insights

Federal Reserve Holds, UK Budget Looms and Eurozone Struggles

Weekly Market Headlines: This week, key events like the UK Spring Statement, inflation data, and U.S. GDP & PCE figures could drive FX volatility. Highlights Last Week: USD: Fe...

Mar 24, 2025·3 min read

Market insights

GBP/USD near six-month highs

Weekly Market Headlines: Volatility has continued to dominate currency markets over the past week, primarily driven by widespread weakness in the US dollar. This follows a signific...

Mar 17, 2025·2 min read

Market insights

GBP reaches four-month high against USD

Weekly Market Headlines: Recent market movements have brought positive gains for the British pound against the US dollar, reaching a four-month high. A weaker US dollar, driven by...

Mar 10, 2025·2 min read

Market insights

German election takes centre stage – but it’s not over yet

Weekly Market Headlines: Currency markets opened volatile last night following the German election results, which saw the CDU/CSU party secure 28.6% of the votes. However, this res...

Feb 24, 2025·2 min read

Market insights

Key UK Data in Focus This Week

Weekly Market Headlines: GBP/USD is now trading near 10-week highs following a broad market sell-off of the US dollar last week. This comes despite the Bank of England lowering its...

Feb 17, 2025·2 min read

Market insights

US inflation ticks higher, UK avoids recession, and US-Russia peace talks shift market sentiment

Weekly Market Headlines: The past 24 hours have been turbulent in the currency markets. US inflation came in higher than expected, initially strengthening the US dollar as traders...

Feb 13, 2025·2 min read

Market insights

From interest rates to your wallet: Key FX updates

Weekly Market Headlines: It was a busy week in the currency markets as the Bank of England (BoE) cut interest rates by 25bps. However, markets were caught off guard by the unanimou...

Feb 10, 2025·2 min read

Market insights

US Dollar Strengthens as Tariff Tensions Escalate

Weekly Market Headlines: The US dollar strengthened across the board overnight following a series of tariff announcements from Canada, Mexico, and President Trump over the weekend,...

Feb 3, 2025·2 min read

Market insights

Potential market movements driven by Trump’s inauguration

Weekly Market Headlines: Today marks a historic moment as President Trump is inaugurated, coinciding with the US markets being closed for Martin Luther King Day. With over 200...

Jan 20, 2025·3 min read

Market insights

Time for currency risk management as pound hits two-year lows

Weekly Market Headlines: The pound has continued its downward trend, with GBP to USD now trading at levels not seen in nearly two years. Recent market activity reflects growing con...

Jan 13, 2025·2 min read

Market insights

Inflation data and rate decisions ahead

Weekly Market Headlines: Both the UK and Eurozone are due to release inflation figures on Wednesday. These reports may shape their central banks' monetary policies moving into 2025...

Dec 16, 2024·2 min read

Market insights

Sterling, euro and dollar insights

Weekly Market Headlines: Sterling to euro rates remain at recent highs as we await the European Central Bank’s (ECB) upcoming decision this Thursday. ECB rate expectations: The ECB...

Dec 9, 2024·2 min read

Market insights

Sterling euro update: What you need to know

Weekly Market Headlines: Sterling euro rates are testing 31-month highs, presenting potential opportunities for those looking to trade. Euro weakens: European Central Bank policyma...

Dec 2, 2024·2 min read

Market insights

US news to shape global exchange rates

Weekly Market Headlines: Pound under pressure against USD: The pound vs. US dollar has reached a 6-month low, reflecting ongoing pressure. Tomorrow evening’s release of the Federal...

Nov 25, 2024·2 min read

Market insights

UK and EU inflation announcements this week could impact the value of the pound and euro

Weekly Market Headlines: Pound to euro rates fall from last week’s 2½ year high. Friday’s report showing UK economic growth of just 0.1% between July and September contributed to a...

Nov 19, 2024·3 min read

Lumon updates

How Lumon contacts you: what to expect and how to stay safe

At Lumon, we are dedicated to ensuring that your business’s international payments and foreign currency transactions are smooth, cost-effective, and, above all, secure. To maintain...

Nov 13, 2024·4 min read

Market insights

US dollar strengthens further, boosting pound-to-euro rates

Weekly Market Headlines: Best time in 31 months to buy euros with pounds: The stronger US dollar continues to pull down the euro, pushing pound-to-euro levels to new highs. Best ti...

Nov 11, 2024·3 min read

Market insights

Currency volatility spikes after Trump wins presidency

Market update: The US dollar has strengthened by up to 1.5% against the pound this morning, as markets react to expectations of a ‘Trump trade’ effect. Markets are pricing in the l...

Nov 6, 2024·1 min read

Market insights

It’s US election week – FX markets are braced for the outcome

Weekly Market Headlines: Sterling exchange rates recover following budget. The pound has recovered into the weekend following a more volatile week for the UK financial markets. Aga...

Nov 4, 2024·3 min read

Market insights

What the UK budget and US election could mean for exchange rates

Weekly Market Headlines: With the UK budget just two days away, the pound is near a 2.5-year high against the euro. Markets are closely watching how the budget will impact the econ...

Oct 28, 2024·2 min read

Market insights

Preparing for the UK budget and US election

Strategies for corporates to navigate currency market volatility With the UK Budget due next week and US election shortly after on 5th November, markets are preparing for what Bloo...

Oct 24, 2024·3 min read

Managing FX risk

How to build an FX budget rate

The benefits of prudent financial planning for businesses with an international footprint are compelling: clarifies and prioritises financial goals, informs decision-making, improv...

Oct 24, 2024·3 min read

Market insights

Sterling to euro on the front foot with just 9 days to the UK budget

Weekly Market Headlines: Pound to euro rates 0.5 cent off Friday's 2 ½ year highs. The pound has retreated slightly from Friday’s 30-month high, but we remain very close to the bes...

Oct 21, 2024·3 min read

Market insights

Eurozone and UK data to shape pound to euro rates

Weekly Market Headlines: Pound to euro rates could face greater attention this week as the FX market closely monitors the upcoming Eurozone interest rate decision. Currently, the e...

Oct 14, 2024·3 min read

Market insights

Sterling rises against the euro, dips against the US dollar

Weekly Market Headlines: The pound has bounced back against the euro, recovering some of last week’s losses and remaining within 0.5% of its 2½-year highs. For example, £50,000 now...

Oct 10, 2024·1 min read

Market insights

Pound vulnerable as US dollar strengthens

Weekly Market Headlines: US economy created 254k new jobs in September. A better-than-expected US Unemployment report has strengthened the US dollar, knocking the pound off its rec...

Oct 8, 2024·2 min read

Lumon updates

Announcement: Lumon agrees to acquire Abacus FX Limited

We are pleased to announce that Lumon has agreed to acquire Abacus FX Limited (“Abacus”), an international payments specialist based in London, with European distribution capabilit...

Sep 5, 2024·1 min read

a woman entering her ballot slot to an uk election

Market insights

UK snap election: brace for currency market volatility

After months of speculation, the wait to find when the next UK general election will take place is finally over. Rishi Sunak’s announcement stunned the country, having kept his pla...

Jun 5, 2024·5 min read

Managing FX risk

Risk management priorities: why hedging currency risk is as important as securing a fixed-term mortgage

Fixed-term mortgages and currency risk hedging share striking similarities in their fundamental risk management objectives and mechanisms - but they couldn’t be more different when...

Apr 30, 2024·5 min read

Managing FX risk

Managing election uncertainty in FX markets

The US and UK elections last coincided in 1964, when Britain’s Labour Party removed the entrenched Conservative government in October, and less than a month later, Democrat preside...

Mar 28, 2024·6 min read

Managing FX risk

How do large companies manage FX risk?

Whether you’re the CFO of a multinational corporation or you run a small business with an international footprint, your finances will be exposed to FX risk - an unpredictable force...

Mar 28, 2024·5 min read

100 usd benjamin franklin with covid mask

Managing FX risk

How could market volatility in 2024 compare to previous 5-year averages?

Currency market volatility has been par for the course across major currency pairs over the last five years amid a global pandemic, red-hot inflation and historic interest rate ris...

Mar 5, 2024·8 min read

eu flags waving infront of european parliament building

Managing FX risk

Interest rates and the FX market: what goes up, must come down

Of all the variables that impact the performance of exchange rates, one is emblematic of their ability to pull the markets back and forth: interest rates. This has been amplified b...

Mar 5, 2024·8 min read

(benjamin franklin note with finance graph over the top)

Managing FX risk

What do businesses focus on when managing currency risk?

Currency exchange management can often be seen as a headache rather than a fundamental business process. This is a by-product of conducting international business or working within...

Jan 29, 2024·4 min read

Managing FX risk

The role of FX in global supply chains

Whether you’re starting up, scaling up or steering the course of a large organisation, if you have an international footprint your supply chain will be exposed to FX risk - a multi...

Jan 29, 2024·6 min read

Managing FX risk

Overseas payments terms, explained

There is quite a lot of industry-specific language around overseas payments, but this quick guide should help clear things up. BEAR & BULL MARKETS A Bear Market is when a mark...

Jan 29, 2024·4 min read

Lumon updates

Lumon welcomes new board member, Nick Haslehurst

We are delighted to welcome Nick Haslehurst as a Non Executive Director/Chair of Risk and Compliance Committee to Lumon’s Board, bringing a wealth of experience from his career in...

Jan 29, 2024·1 min read

Lumon updates

Lumon Partners with Finpoint to Offer Overseas Payments to SME Customers

Lumon is thrilled to have partnered with Finpoint, a free platform that helps businesses get a better deal for finance. The partnership allows us to work together in offering overs...

Jan 29, 2024·1 min read

Image of a spreadsheet, calculator and magnifying glass

Lumon updates

Lumon and DeVines partner to bring overseas payments to their clients

We’re pleased to partner with DeVines – a long-established firm of Chartered Accountants in Chelmsford, Essex, providing accountancy services and professional advice to S...

Jan 29, 2024·1 min read

Managing FX risk

Insurance industry and forex: strategies for global operations

The basis of the insurance industry is to offer risk management to individuals and businesses for unforeseeable events. However, the companies that are responsible for providing th...

Jan 29, 2024·10 min read

Managing FX risk

Currency exchange products that may be useful for businesses

Having defined your business’s goals, it’s time to turn them into reality by underpinning them with currency exchange products. Exchange rates are in a constant state of flux, as t...

Jan 29, 2024·4 min read

Insights

Featured article

The FX Factor: what 100 food and drink finance leaders told us about currency risk

Latest articles

Sterling falls behind as the Fed hikes and the Bank of England holds

ECB hikes again as Fed and Bank of England decisions land this week

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Sterling firms as all eyes turn to Jackson Hole

Growth, risk and profitability in food and drink: A Lumon podcast

Sterling climbs to three-month highs as the dollar retreats

Dollar knocked by a shock US jobs report

August FX briefing: Sterling rises as the dollar stalls

Sterling holds gains after a hawkish central bank week

Central banks take center stage after sterling’s pullback

Changing of the guard: Navigating currency risk in Q3 2026

Why the loudest headline is rarely the right hedge signal

Sterling extends gains as leadership settles

FX risk management for food and beverage businesses: what a structured approach looks like

Sterling strengthens as the political picture clears

Dollar under pressure after weak US jobs data

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How exchange rates affect international business payments

FX Order types

What drives sterling and what that means for your margins

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July FX briefing: geopolitics and Fed policy boosts the dollar

Hawkish Fed and potential peace in the Middle East lifts the dollar

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Dollar recovers as US-Iran deal proves fragile. Starmer resignation hits sterling.

How interest rates affect exchange rates and business costs

Potential peace deal with Iran? Plus, back-to-back rate decisions from the Fed and the Bank of England this week.

When seasonality in the food supply chain fails

What the Makerfield by-election means for UK businesses and the pound

US economic resilience weighs on euro

June FX briefing: the May drivers aren’t done yet

Rising inflation and muted growth dominate EU Spring forecast

Markets take heart at possibility of peace

The FX costs you are overlooking in your frozen food supply chain

When does currency exposure cost your business money?

Starmer’s ongoing troubles undermine sterling

Disruption is now the default: what should food & drink leaders do about it?

Political turmoil in the UK could spell problems for the pound

What May’s FX volatility could mean for your food and beverage business’ margins

May could see calls for interest rate hikes if the Middle East stand-off continues

Oil rises again as interest rates hold steady

Interest rates likely to remain unchanged this week – but for how long?

Why the news cycle could be costing you more than you realise

Strait of confusion – is the Hormuz trade route open or not?

Announcement: Lumon agrees to acquire Fiscal FX

Currency forward contracts vs futures contracts: key differences

Oil prices likely to rise again as peace talks falter

Food and beverage margin pressure: rising costs and how businesses can respond

Jobs data and Iran war support a strengthening dollar

Why geopolitical turbulence is rewriting the FX playbook for food & drink manufacturers

Energy premiums, global conflict and inflationary pressures: the April FX outlook for food and beverage businesses

Confusion in the Middle East spooks markets

Will “Trumpflation” create money market chaos?

Dollar strengthens as Middle East conflict escalates

Conflict in the Middle East sends tremors through currency markets

FX markets eye Middle Eastern conflict this March

Middle East tensions unsettle FX markets

Trump’s new tariffs signal a return to uncertainty

The UK’s sluggish growth may prompt earlier rate cut

Starmer’s woes force a sterling retreat

The dollar’s struggles are far from over this February

Will a new Fed chair cause money market volatility?

Tariff threat recedes but tensions remain

Internal misalignment could be your largest currency risk in 2026

A week of political turmoil threatens exchange rate volatility

Powell inquiry creates exchange rate turbulence

The euro dips after a strong 2025

UK interest rates fall but decision tighter than expected

Is a UK interest rate cut now nailed on?

December interest rate cuts on the cards

After a turbulent 2025, FX markets look ahead to December and beyond

Markets react calmly to Reeves’ pivotal budget

Markets and businesses await budget details

The Autumn Budget Watch

Reeves U-turns over Budget income tax rises