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British expatriates in the UAE who regularly send money home have been feeling the squeeze as an empowered pound has risen against a diminished US dollar.
With Brexit uncertainty being supplanted by an economy plotting a positive course beyond Europe and the Covid-19 pandemic, the dollar-pegged UAE dirham has been buying noticeably less sterling in recent months.
And that could impact savings, purchasing power or render UK-domiciled bills more burdensome for some Britons in the UAE.
In early trading on Tuesday, sterling rose 0.2 per cent to $1.4240 after briefly hitting $1.4248 against the greenback – its highest level in three years and marking a second straight monthly gain of 2.8 per cent in May, according to Reuters.