Pound to dollar exchange rate – Sterling falls against US currency after recovering from eight-week low
Sterling experienced a minor plunge this morning after climbing around three per cent in recent weeks
THE pound has fallen against the dollar this morning after recovering from an eight-week low.
A quid would get you 1.3136 dollars as of 8am this morning - after reaching highs of 1.3275 last week.
Sterling hit a low of 1.2786 against the dollar in late August but has enjoyed a steady comeback since.
The recent climbs mean Sterling is now down only around one per cent against the dollar compared with before the EU Referendum of June last year.
Travel guru Lonely Planet is urging holidaymakers from overseas to "reap the rewards" of currency exchange rates while the UK Government "busies itself with Brexit".
Sterling is down 14 per cent against the euro and 11 per cent against the dollar compared with before the EU Referendum of June last year.
The latest edition of Lonely Planet's Best in Travel advises readers to "make the exchange rate work even harder" by heading to Devon, Cornwall, Bath, York and Edinburgh.
The travel guide adds: "The most likely scenario is that the UK stays affordable to international visitors - at least until a true picture of the post-Brexit landscape emerges."
It lists the UK as number seven on its table of the best value countries to visit next year.
More fluctuations in the pound to dollar exchange rate are expected as US investors speculate on who will become the next head of the Federal Reserve - the American version of the Bank of England.
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
The pound is also affected by domestic affairs, with Brexit a source of worry for some investors.
Recent news has increased economic uncertainty, which can give the market some jitters.
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