Pound to dollar exchange rate – sterling rises slightly against the US dollar as Theresa May Brexit speech looms
Today the UK currency was trading $1.3274 against the US dollar, up from yesterday's low of $1.3226.
THE pound has risen slightly against the the dollar as speculation mounts about Prime Minister Theresa May's keynote speech to the Tory conference in Manchester today.
Today the UK currency was trading $1.3274 against the US dollar, up from yesterday's low of $1.3226.
Monday saw the pound suffering its worst day against the dollar since the June 8 election due to anticipation of political announcements amid the Conservative annual conference.
It fell by 0.7 per cent against the dollar, making it the under performer of all the G10 currencies.
Prime Minister Theresa May will deliver the closing speech of the Conservative Party conference today with analysts expecting further details on the Government's plans to push forward with Brexit.
The foreign exchange market is at a crossroad with uncertainty over the likely successor of US Federal Reserve Chair Janet Yellen whose term ends in February.
CASH IN How to get the best deal on YOUR holiday money...
How to get the best holiday money rate
WE spoke with Hannah Maundrell, editor-in-chief at money.co.uk to find out how you can guarantee the best rate when you go on holiday
- Don’t buy cash at the airport – you’ll always be able to beat the rate with a bit of forward planning
- Compare travel money companies online – Factor in delivery costs and choose the option that gives you the most cash to spend on holiday. If you’ve left it until the last minute order online for airport collection so you get the best of both worlds.
- Use comparison tools – MoneySavingExpert’s TravelMoneyMax enables you to compare pick-up and pre-order rates.
- Don’t pay for travel money with a credit card – it’s likely you’ll be charged a cash withdrawal fee which adds to the cost.
- Top up a prepaid card to lock in your rate now – Choose your card and read the T&Cs carefully as some apply hefty fees. WeSwap, FairFX and Caxton FX are all worth checking out.
- Always choose to pay in the local currency rather than sterling – This will help you avoid sneaky exchange fees
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