Since the Brexit vote in June GBPCAD has dropped from 1.9035 to 1.7372. For Canadian Dollar sellers 200,000 CAD into sterling will now achieve you an additional £10,000!
Looking ahead on going talks between Russia and OPEC countries in a bid to reduce a flooded oil market will be a major talking point. If an agreement is put in place, the price of oil should rise which could cause the Canadian Dollar to strengthen.
As for the UK, economic data will continue to impact the value of the pound. I believe economic data will be mixed however the majority will show a contraction therefore GBPCAD could fall further.
If you are buying Canadian Dollars with the pound it may be worth cutting your losses and trading sooner rather than later.
The currency company I work for enables me to buy and sell Canadian Dollars at rates better than other brokerages and high street banks. If you are buying or selling euros this year feel free to send me the currency pair you are trading (CADUSD, CADEUR, CADGBP) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn