Brexit jitters cause problems for the Pound vs the Canadian Dollar (Tom Holian)

GBP EUR Exchange Rate: Weekly Review December 4th  

There has been very little economic data due out so far this week and the market is clearly being governed by what is happening politically at the moment.

Sterling exchange rates are being affected by the Brexit talks and with the fifth round having started yesterday we are still a very long way from any form of resolution.

Towards the end of last week rumours were increasing that there may be some Tories looking to challenge May and that they would be looking to create a leadership election. However, over the weekend many senior Tories have spoken out in defence of the current Prime Minister which has helped to stem some of the recent losses.

Later today the latest set of GDP data for the last three months is due to be released by the NIESR. Although this is not the official data it is usually very accurate and therefore we could see a lot of volatility once the figures have been published at 12pm today.

Overall I expect the Pound to continue to struggle against the Canadian Dollar whilst the Brexit uncertainty continues so if you’re looking to buy Canadian Dollars it may be worth organising this in the short term.

If you have a 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 (Tom Holian) on [email protected] and I will endeavour to get back to you as I can.