The Pound to Canadian Dollar exchange rate has been trading within thin volumes so far this week, with the pair ranging just half a cent throughout today’s trading session.
The Pound is coming under pressure against many other currency pairs which some may consider as a sign of Canadian Dollar weakness.
With the Pound losing around 10 cents against CAD since the snap election called by Theresa May didn’t go to plan, I’m tempted to think that there isn’t much further for the Pound to fall against the Loonie.
Tomorrow could be one of the busiest days for the pair as the Bank of Canada (BoC) governor Stephen Poloz will be speaking. This will offer him a chance to either back up or go against the grain of the bullish words by his deputy Carolyn A. Wilkins last week when she suggested that the BoE should be looking at raising interest rates.
If he too adopts a bullish tone i’m expecting to see the Pound lose further ground on the Loonie, although as I mentioned I’m not expecting to see the Pound loose a substantial amount more of value against the Loonie.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.