What can we expect next for GBPCAD rates?

GBP EUR Exchange Rate: Weekly Review July 16  

The pound to Canadian dollar rate has been much more attractive for Canadian dollar buyers as investors concerns over the price of Oil and also the worrying outlook for trade relationships with the USA. Not only have there been some worrying trends on the relationship with the US but concerns over the price of Oil have also seen the Loonie lose value too. All in all the market appears to look likely to favour clients buying Canadian dollars rather than selling them.

If you are holding Canadian dollars hoping rates will improve for you to buy pounds you might be wishing to start planning your exit strategy! To discuss the timing and planning of any deal buying or selling Canadian dollars please contact me Jonathan Watson by emailing [email protected].

The overriding impression for the GBPCAD rate is the worrying new from the United States. With Trump threatening to tear up the trade deals in place with Canada markets are very concerned over the outlook for the Canadian economy and with sterling on the rise as markets are expecting a strong Theresa May victory which will help the pound.

Over the year many clients have been waiting to sell CAD for sterling at favourable rates and even with levels at 1.60 lately many clients decided not to move. Having set your expectations too high can be a very costly trait in the currency markets, if you need to buy or sell currency then making some plans around the UK election is well worth your while to avoid any further unexpected surprises.

If you have a transfer to make and wish for the latest news and the best exchange rates then please speak to me Jonathan Watson by emailing [email protected].