Pound to dollar exchange rate – sterling holding strong ahead of May’s Brexit talks
THE UK currency stayed near a six-week high against a weaker dollar ahead of Theresa May's visit to Brussels for Brexit talks
THE pound stayed near a six-week high against a weaker dollar ahead of Prime Minister Theresa May's visit to Brussels for Brexit talks.
Sterling was up 0.08% against the US currency this morning trading at 1.3318.
PM May travelled to meet European Council president Donald Tusk today and is set to reaffirm Britain's ongoing commitment to European security.
The Tory leader faces further pressure from EU leaders to spell out how she intends to settle the UK's Brexit "divorce bill".
May will hold fresh talks with Tusk during the summit in Brussels between the EU and former Soviet bloc "partner" states.
She was warned last week by Mr Tusk the EU needed greater clarity on the terms of Britain's withdrawal - including the financial settlement - by early December if there was to be any chance of leaders giving the go ahead for phase two of the Brexit negotiations.
Mrs May is due to travel to the Belgian capital again on December 4 to meet European Commission president Jean-Claude Juncker in what is being seen as a final opportunity to meet Mr Tusk's deadline.
Mr Juncker said on Thursday that he could not say that sufficient progress had been made for a breakthrough at the European Council summit on December 14-15, but was hoping the process would "move forward" when he met Mrs May.
The Commission president said he was "not crazy enough" to be drawn on whether a £38 billion "divorce bill" offer expected from the PM would be acceptable to the 27 remaining EU states.
The Sun reported that Mrs May will demand a very swift agreement on a transition period after the date of Brexit in 2019 in return for the sum.
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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