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Is it better to exchange dollar to pound in UK or in US?

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I'm planning to go to England this time. I heard there are some countries where they charge higher tax - I don't know how it is called but i mean the tax that is added to normal exchange rate - than in US. So in case of UK, would it be better to bring dollar to UK and exchange it to pound there? or exchange here and then bring pound to UK? Which saves you more money, not considering the fluctuation of exchange rate?

p.s I don't use traveler's check, but only cash.

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