Sterling vs Canadian Dollar under pressure owing to Brexit polls (Tom Holian)

Will Pound to Euro Rates Gain in September?

After hitting a 4 month high recently Sterling has started to fall against the Canadian Dollar as the Brexit polls appear to have the Leave campaign leading over the Remain vote.

With just over 2 weeks to go Sterling has fallen across the board against all major currencies and we could expect further falls over the next fortnight as the uncertainty continues.

I personally expect the UK to vote to stay in the European Union when the vote takes place but whilst the opinion polls show the Leave vote leading this is likely to cause Sterling to fall.

Oil prices have also started to rise again which is good news for the Canadian Dollar considering the huge problems caused by the wildfires in Alberta which have halted oil production in Canada.

Indeed, the price of oil has almost doubled since January and as such a big exporter of the commodity this has helped to strengthen the Canadian Dollar vs the Pound.

Good news if you’re looking at exchanging your Canadian Dollars into Sterling.

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