Huge Sterling strength as Brexit looking unlikely (Tom Holian)

GBPEUR rate remains steady as markets await the Autumn Budget

GBPCAD exchange rates have seen a huge movement upwards during today’s trading session after a recent poll has shown that a Brexit out vote looks very unlikely.

Sterling has increased against all major currencies during today’s trading session and we are now getting close to hitting 1.90 which is the best level to buy Canadian Dollars since the end of February or in other words a 3 month high.

UK average earnings as well as UK unemployment figures came out better than expected and this has also caused the Pound to gain against the Canadian Dollar.

The wildfires in Alberta are still ongoing and look as if they’re headed in the direction of the oil refineries which could cause further disruption to the industry and cause problems for the Canadian economy.

UK Retail Sales are due in the morning and if they come out better than expected we could see GBPCAD exchange rates break past 1.90 which is good news for anyone looking to buy Canadian Dollars with Sterling.

Having personally worked in the currency markets since 2003 if you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk