Pound to Euro Consolidates at 10-week High

Pound to Euro Exchange Rate – Further Losses Ahead?

Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session. It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness. For those that were following Sterling exchange rates...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar Outlook: Collapse in Oil Prices Will Keep CAD Subdued Up...

In another week dominated by coronavirus news headlines, the Canadian dollar fared worse once more against the pound as falling oil prices kept the oil-sensitive currency under severe pressure. With Saudi Arabia launching an oil price war with Russia; selling oil at bottom rates in order to capture the market as global demand falls amidst the coronavirus crisis. Meanwhile, for the pound, investors were disappointed in the UK government’s lack of action last week concerning the coronavirus containment efforts. Towards the end of the week,...
GBPEUR: Pound Slumps Against Majors as ‘No deal Brexit’ Chances Rise

Pound to Euro – High Volatility Expected in Weeks Ahead

The pound to euro and pound to US dollar remains on a weaker footing with Brexit and COVID-19 continuing to act as the principle drivers. The pound to Euro rate nonetheless rallied higher to a high point of 1.1259 yesterday and 1.2363 for the pound to dollar. The movements follow intense media interest over the Bank holiday weekend surrounding the Prime Minister’s chief adviser Dominic Cummings and whether in the eyes of the law he broke lockdown rules when travelling from London to Durham....
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Have We Seen the Worst For The Pound as The Bounce Bank Continues Against...

As the UK government continues to take control by forcing the nation into total lockdown, limiting the majority of movements for the 66 million in the UK, only allowing keyworkers out of their home while everyone else are only allowed out for visits to the supermarket and short periods of exercise. These moves coming around 2-3 weeks behind the rest of Europe seem to be giving confidence to market that the UK now has some degree of confidence in the spread of COVID-19. This has...
Pound to Euro Under Brexit Spotlight

Pound to Euro Under Brexit Spotlight

The UK and EU will begin their 4th and final round of Brexit talks tomorrow before the UK must decide whether to request an extension to the current transition period, which is due to end on the 31st January 2021. Previous negotiations between the UK and EU have seen little progress with both the UK and EU refusing to compromise on their red lines. Whilst the UK has until November this year to agree a trade deal with the EU, the UK only has...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Pound to Canadian Dollar Exchange Rate: CAD Slides on Oil Price Drop as UK...

Heading into mid-week, the Canadian currency remains under significant pressure from falling oil prices. As has been the case for much of the recent weeks, the price of oil has held back the oil-correlated currency as the world faces an onslaught from the coronavirus outbreak. Being linked to risk has also done the Canadian dollar little favours as global risk sentiment remains at rock-bottom. Meanwhile, in the UK, the January unemployment figures were released yesterday. The report showed a rise in unemployment in the...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Pound to Canadian Dollar Exchange Rate: CAD Firmed as GBP Sunk on BoE Outlook...

Into the last trading day of the week, the Canadian dollar firmed on Thursday as investors welcomed moves made by the Canadian government and central bank which helped to reassure flighty markets overnight. But the currency may still be at risk of declines up ahead. Meanwhile, Sterling remained under pressure as the market scrutinised recent comments from the Bank of England’s governor Andrew Bailey who hinted that the central bank may have to step in regarding GBP’s recent underperformance against nearly all rivals of...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Pound to Canadian Dollar exchange rate: Global trade tensions and Brexit to drive GBP/CAD...

The pound to Canadian dollar exchange rate has continued to fall due to Brexit talks coming to a standstill, despite last week’s disappointing Canadian GDP release. Canadian economic developments: Effects on GBP/CAD exchange rate Posting 0pc growth for July, the markets were disappointed with the figures having expected a 0.1pc expansion. Canada’s economy had outperformed during Q2 as oil prices crept up and exports increased enabling the economy to grow at a healthy 3.7pc annualised figure, its strongest in years. However, sterling failed to take advantage...
Pound Stronger vs Canadian Dollar this Morning

Pound Stronger vs Canadian Dollar this Morning

The pound to Canadian dollar exchange interbank exchange rate was higher this morning by 0.63%. While the pound is stronger this morning against a number of its counterparts, there are 3 main reasons why we might see the value of the pound fall. Firstly, the UK has a current account deficit as a result of importing more than it exports. Also the pound has been propped up by significant capital inflows from investors abroad attracted to UK investments. If these inflows start to dry up...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

How Is COVID-19 Effecting GBP to CAD Exchange Rate?

In times of global economic uncertainty Sterling usually does not fair well due to our imports far outweighing our exports. On top of the Coronavirus situation we also have Brexit to contend with. There is a complete lack of clarity surrounding trade and it seems unlikely we will have a solution by the end of the year. Boris Johnson has stated on many an occasion he intends to get a deal done by the end of 2020. One of the biggest concerns for investors is...