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From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
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From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)

Businesses are seeking to entice royal fans with a slew of products marking the coronation of Britain's new monarch. Mugs, plates, tea towels, magnets, cushions and teddy bears are staple memorabilia for royal occasions and an array of these to mark King Charles' coronation on May 6 are already filling shop windows.

But some retailers are hoping more niche products will also catch the eye of consumers.

Toy brand Matchbox is selling made-to-order 1:64 scale models of the gold state coach, a fixture in royal coronations, while the card game Top Trumps has a new "Kings & Queens" version. Others are selling coronation varieties of the games pass the parcel, bingo and charades.

Biscuit maker McVitie’s has a limited-edition tin that pays homage to Charles and his wife Camilla's love of nature as well as the monarch's watercolor painting hobby, while numerous labels and supermarkets are marketing teas or sparkling wines.

Brand Caviar House & Prunier has a limited edition tin adorned with the Union Jack and the words "His Majesty's Caviar", while Premier Foods has celebratory packaging for products including Bisto gravy granules and Ambrosia custard.

Supermarkets have dedicated online pages for products and decorations for coronation parties - and the demand is there.

John Lewis Partnership, the owner of the eponymous department stores and supermarket chain Waitrose, said last week searches for coronation products on its website had risen more than 262% on the previous week.

Catalogue retailer Argos says one particular piece is faring well among shoppers - a cardboard cut-out of Charles.

“Our royal family selection of cardboard cut-outs have always been a favorite of our customers, with King Charles proving himself to be a top seller," an Argos spokesperson said.

"Even ('Frozen' character) Queen Elsa can’t compete in the run up to the celebrations."

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Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
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Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

The US dollar charged ahead on Thursday, underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs.

The focus for markets in 2025 has been on US President-elect Donald Trump's agenda as he steps back into the White House on Jan. 20, with analysts expecting his policies to both bolster growth and add to price pressures, according to Reuters.

CNN on Wednesday reported that Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries. On Monday, the Washington Post said Trump was looking at more nuanced tariffs, which he later denied.

Concerns that policies introduced by the Trump administration could reignite inflation has led bond yields higher, with the yield on the benchmark 10-year US Treasury note hitting 4.73% on Wednesday, its highest since April 25. It was at 4.6709% on Thursday.

"Trump's shifting narrative on tariffs has undoubtedly had an effect on USD. It seems this capriciousness is something markets will have to adapt to over the coming four years," said Kieran Williams, head of Asia FX at InTouch Capital Markets.

The bond market selloff has left the dollar standing tall and casting a shadow on the currency market.

Among the most affected was the pound, which was headed for its biggest three-day drop in nearly two years.

Sterling slid to $1.2239 on Thursday, its weakest since November 2023, even as British government bond yields hit multi-year highs.

Ordinarily, higher gilt yields would support the pound, but not in this case.

The sell-off in UK government bond markets resumed on Thursday, with 10-year and 30-year gilt yields jumping again in early trading, as confidence in Britain's fiscal outlook deteriorates.

"Such a simultaneous sell-off in currency and bonds is rather unusual for a G10 country," said Michael Pfister, FX analyst at Commerzbank.

"It seems to be the culmination of a development that began several months ago. The new Labour government's approval ratings are at record lows just a few months after the election, and business and consumer sentiment is severely depressed."

Sterling was last down about 0.69% at $1.2282.

The euro also eased, albeit less than the pound, to $1.0302, lurking close to the two-year low it hit last week as investors remain worried the single currency may fall to the key $1 mark this year due to tariff uncertainties.

The yen hovered near the key 160 per dollar mark that led to Tokyo intervening in the market last July, after it touched a near six-month low of 158.55 on Wednesday.

Though it strengthened a bit on the day and was last at 158.15 per dollar. That all left the dollar index, which measures the US currency against six other units, up 0.15% and at 109.18, just shy of the two-year high it touched last week.

Also in the mix were the Federal Reserve minutes of its December meeting, released on Wednesday, which showed the central bank flagged new inflation concerns and officials saw a rising risk the incoming administration's plans may slow economic growth and raise unemployment.

With US markets closed on Thursday, the spotlight will be on Friday's payrolls report as investors parse through data to gauge when the Fed will next cut rates.