GBPCAD has continued its ascendancy of late has a weaker pound and improvements in the price of Oil continue to cause upset for anyone looking buy the Canadian dollar. As the prospect of uncertainty over Oil prices diminishes the rates have only improved for Canadian dollar sellers, it would appear that longer term the exchange rate will only go from strength to strength as the price of Oil makes a recovery and particularly if the pounds weakens further. GBP Uncertainty seems the more likely in the coming weeks so it looks like their will be only further upset for GBPCAD buyers. The improvements for the CAD against the pound do look set to continue further.
Another reason for the Canadian dollar rising against sterling is the US dollar has strengthened on the global uncertainty that has arisen over the Brussels attack. This worry has caused sterling to slip and funds to be moved into the relative safe haven of the US dollar. If there is any further worry over future terrorist attacks this will further undermine sterling which could further improve exchange rates for CAD sellers for pounds.
If you need to move any money internationally please speak to me Jonathan on [email protected] for an overview of everything that is happening which might impact your exchange rate.