GBP to CAD rate trading around its best levels in almost 3 months, will the recovery continue? (Joseph Wright)

Will the GBP Recover Against the EUR?

The Pound appears to be recovering from its 2017 lows that it hit in August as the GBP/CAD pair are now trading firmly in the 1.60’s.

Brexit uncertainties seem to have been shelved for now by the financial markets as Sterling is also recovering against many major currency pairs with the Pound to Euro rate hitting an 10-week high this week which seems to have boosted sentiment surrounding the Pound.

On Friday this week there will be the release of UK GDP figures for both the month and the year, and these may have the potential to create further movements for Sterling exchange rates. The figures will be released at 9.30am and the expectations are for 0.3% growth over the past quarter and also 1.7% growth on an annualised basis.

If you would like to be kept updated regarding these data releases and any subsequent price movement between the GBP/CAD pair due to you having an upcoming currency exchange requirement you’re planning, do feel free to register your interest with me.

The Loonie (Canadian Dollar) can also be impacted by oil prices due to the economy being export driven, so it’s also worth following oil prices as they’re in the news alot at the moment also.

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 jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.