Continued pressure on the pound and a reasonably solid Oil price is keeping GBPCAD in the 1.60’s I cannot see a big reversal of fortune for the pound anytime soon. Most commentators are rightly suggesting and worrying about what is around the corner, I would personally be very worried about what to expect in the coming months and weeks for the UK and for the pound. As of yet we just do not know what to expect for sterling, the pound does not seem to have yet found a bottom. GBPCAD is the low 1.60’s seems highly likely once interest rates are cut but were the price of Oil to rise significantly who could rule out GBPCAD rates in the 1.60’s?
If you have a transfer to consider making some plans in advance in such an unstable market is very wise to avoid the disappointment of missing out should rates take an unexpected or expected turn. GBPCAD is now at the best time in 3 years to sell Canadian dollars for sterling which suggests to me getting some plans in place is a very smart move! If you have a transfer to consider buying or selling the Canadian dollar then why not get in touch with us to find out some useful information on getting the best exchange rates.
Just email a quick outline of your situation to [email protected] for the latest news and updates plus assistance on the actual timing of any exchanges you might be looking to do.