GBPCAD exchange rates have risen back to some of the best rates to buy CAD with the pound since before the Referendum. Overall expectations are for the pound to continue to rise should the EU deal be concluded which could happen as early as today. If you are looking to buy the Canadian dollar with the pound then you could be in for some very favourable opportunities should this all go according to plan today.
The Canadian Governor Stephen Poloz has also given some indications that the Canadian economy is increasingly looking at less stimulus over time. This is because the Canadian economy is performing well and whilst Poloz said the Bank of Canada will need to be cautious about their future decision, his overall view was that the economy had made excellent progress.
This could be a longer-term hindrance to anyone looking to buy Canadian dollars if the overall expectation for the Canadian economy is to improve. Clients looking to buy Canadian dollars might be wise to move sooner than later to ensure that they maximise and capitalise on the improvements.
Next week will be the start of the winding down for the Christmas period, so if you have a transfer to make buying or selling the pound against the Canadian dollar making plans in advance is probably the best way forward to ensure you don’t miss out.
For more information at no cost or obligation please speak to me Jonathan Watson by emailing [email protected]. Thank you for reading and I look forward to hearing from you in the future and assisting with any transactions that you might need to make.