Pound to dollar exchange rate – sterling rises after Cabinet ministers rally around Theresa May
Sterling is currently trading at $1.3105 - a 0.30 per cent rise since Friday after a number of cabinet ministers pledged their support to the Prime Minister after a a plot to oust her became public
THE pound has strengthened against the dollar as a number of cabinet figures rallied around Theresa May after a a plot to oust her became public.
Sterling is currently trading at $1.3105 - a 0.30 per cent rise since Friday.
The rise comes after a number of cabinet minister rallied around Theresa May after a plot to oust her became public.
Foreign Secretary Boris Johnson posted the message on a private WhatsApp group used by Tory politicians but it was leaked last night.
In it he said: "We have JUST HAD AN ELECTION and people are fed up with all this malarkey.
"Get behind the PM. Ordinary punters I have spoken to thought her speech was good and anyone can have a cold.
"Circle the wagons, turn the fire on Corbyn, and talk about nothing except our great policies and what we can do for the country."
The Prime Minister's conference speech last week announcing plans to build more new council houses and a cap on energy bills was overshadowed by a huge bout of bad luck.
She was handed a P45 by a prankster, suffered a coughing fit while delivering the speech - and bits of the set fell down around her.
As a result, the pound tumbled against the dollar.
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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