Today the decision anyone interested in Sterling to Canadian Dollar exchange rates has been waiting for since December will finally come to pass. This is the Supreme Court Decision on Parliament’s involvement to trigger Article 50 and begin the formal process of leaving the European Union.
Sterling to Canadian Dollar rates have been enjoying a surge in strength surrounding this exact issue recently. Theresa May’s speech last Tuesday outlined an ongoing role for Parliament in the Brexit negotiations, as well as the deciding vote on the implementation of any deal reached.
Even this morsel of information in what was a speech pointing to a very hardline view on the Brexit talks was enough to see the Pound rise due to loving eyes that financial markets see Parliament’s role as in the Brexit talks.
Effectively it is seen as a moderating actor.
Markets prefer slow and measured change rather than drastic, and sudden upheaval. The drastic nature of Trump’s actions with executive orders already is seeing the US Dollar lose value for that reason, as investors worry at the potential for political upheaval.
Conversely, Theresa May seems to be seeing how power come under check and may continue to do so. The Government is no longer acting unilaterally as it was in October, and the transparency is allowing the Pound to surge.
The Supreme Court ruling will also mean that the decision and the aims of the negotiations will be put to Parliament, and likely delayed to some degree. Again a likely improvement to Sterling’s value is expected is the decision to uphold the initial Judicial Court decision in November comes through.
If you are planning to make a currency exchange involving the Pound and the Canadian Dollar, it’s well worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
You can also speak to me directly on the phone by calling 01494 787 478 and asking reception to speak with Joshua.