Pound to dollar exchange rate – sterling drops slightly but remains mostly steady against the US currency
The pound fell very slightly against its American counterpart but remained around the same value from yesterday
THE pound dropped off from its near two-month high against the dollar as Donald Trump continues to negotiate tax reforms.
Sterling was down 0.01% against the US currency this morning from yesterday trading at 1.3325.
The president is still fighting to get a manifesto pledge tax reform through an uncooperative congress in Washington.
Several senators from his own party are understood to be divided on his plans posing a problem given that the Republicans hold just a two seat majority.
Meanwhile on this side of the pond Theresa May yesterday travelled to meet European Council president Donald Tusk last Friday and to reaffirm Britain's ongoing commitment to European security.
She told EU bosses to move the Brexit talks onto the "next stage" as she held crunch talks with Tusk in Brussels.
The Prime Minister is trying to finally get the so-called “divorce bill” signed off ahead of the crucial leaders’ summit next month.
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 Prime Minister is trying to finally get the so-called “divorce bill” signed off ahead of the crucial leaders’ summit next month.
Earlier this month the Bank of England raised interest rates by 0.25 per cent to 0.50 per cent for the first time in ten years .
It came after the economy grew more quickly than expected in the third quarter of this year.
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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