Is now a good or a bad time for UK sellers to be targeting the USA?
Now is the best time to start targeting the USA. Exchange rates haven’t been this low in 30 years. Since the GBP is weakening against the USD, that means you get more pounds per dollar, and you have to sell less to make the same amount. Many of Oriana’s clients are acting quickly trying to capitalize on the lower exchange rate.
Let’s say I have £4,000, or about $5,000 and I want to start an Amazon business. I will be selling in the US with USD, and buy product from Chinese suppliers in USD. Is that a good situation to be in, considering the state of things?
Yes. You’ll be making more money in the US, but might be losing a bit buying in China. It will balance each other out, and the account managers at Currencies Direct can help mitigate some loss and offer guidance.
Watch Oriana Marcolongo of Currencies Direct Part 2
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