Will the Pound continue to climb vs the Canadian Dollar, and what factors could impact it? (Joseph Wright)

GBP EUR Exchange Rate: Weekly Review July 16  

The Pound has been climbing against all major currency pairs recently, after sentiment has improved surrounding the UK economy quite dramatically in recent weeks.

It seemed to get a shot in arm a few weeks back when both Spain and the Netherlands announced that they want post-Brexit conditions to remain conducive to business continuing as normal.

Since then hopes of a transitional deal have increased with some major media outlets in the UK jumping the gun and announcing that the deal and the conditions involved had already been agreed, but this isn’t the case.

Just yesterday the Pound was boosted after it emerged that UK unemployment has hit an all time low, and Sterling bulls were buoyed once more after even wage growth showed a sign of improvement which has been a major drag on the Pounds value and under the microscope, as there are fears that the cost of living in the UK will increase after inflation has increased recently.

The GBP/CAD exchange rate was helped earlier after Retail Sales data disappointed causing a sell-off in CAD’s value. The ongoing issues and rumours surrounding the NAFTA agreement has also been putting pressure on the Loonies value due to the uncertainty this is causing.

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.