Pound finishing lower on final trading session before Christmas

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The pound took a knock going into the shortened trading session which finishes at 12:30 today.

Before the markets close for Christmas and the weekend break, the Euro and Dollar were performing better as FTSE 100 was affected by shares falling at Barclays.

According to the BBC, the pound fell 0.1% against the dollar to $1.2270, and dropped 0.2% against the euro to €1.1755.

This minor setback overshadows the announcement the pound showed further growth in 2016’s third-quarter.

Between the months of July to September, the Pound saw an increase in growth by 0.6%, according to the Office of National Statistics.

Darren Morgan from the ONS said: “Robust consumer demand continued to help the UK economy grow steadily in the third quarter of 2016.”

It doesn’t appear that Brexit had as bad of an impact as previously anticipated by economists and bankers.

The Pound has been recovering since the vote saw a plummet after the EU referendum vote in June.

But with the dollar continually seeing growth and the Euro steadily declining in value further, it’s hard to see what the market is projected next year.

You can compare the best exchange rates now and see how much you could save with Compare Holiday Money.

Posted by Matthew Weston

Matt is a Freelance Writer and Travel Blogger. He also creates editorial and video content for UNILAD. Previously worked for the International Business Times and the BBC's Newsnight.

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