GBPCAD rates rise on sterling strength but for how long?

Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

GBPCAD has risen as investors immediate and fresh fears over the Brexit from last week fade out. Most clients buying Canadian dollars had been preparing themselves for a lower deal but with these improvements we can now see a higher rate on offer. If you are buying Canadian dollars it is important to understand the market and all of your options well in advance. By making plans in advance you can help to mitigate any uncertainty and ensure you do not lose out if there is a sudden change in sentiment.

The most likely outcome from sterling from financial markets is to witness further declines in the value of the pound as investors struggle to maintain their positive views amidst so much uncertainty. The Canadian dollar has weakened a little too as the agreement between major Oil producers failed to spark too much good news. The rise and fall of the Oil price is one of the biggest drivers on financial markets.

If you have a transfer to consider then making plans in advance is a very sensible move to help mitigate the uncertainty ahead. If you are looking for any assistance with any transfers please speak to me Jonathan Watson by emailing jmw@currencies.co.uk