Will GBP/CAD Rates Fall Back Below 1.70?

Oil surge leads to Canadian Dollar strength – CAD gains against most majors

The recent global uncertainty and political tensions surrounding Iran have led to  surge in the price of oil and we saw U.S crude oil futures gain 3% over the course of trading yesterday following the U.S decision to abandon a nuclear deal with Iran. This news has managed to take away some of the weakness for Canadian Dollar exchange rates and has countered the uncertainty over the NAFTA agreement that has been weakening the Canadian Dollar in recent weeks. With oil being one of Canada's major exports oil price movements...
Canadian dollar improves against the pound as oil prices rise

Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

Pound to Canadian dollar rates have fallen below 1.70 as continued uncertainty over Brexit in these final stages puts pressure on the pound. The final text on the political declaration for the future relationship between Britain and the EU is being finalised now but is receiving strong criticism domestically in the UK. There are approximately 70 MPs who have stated they will vote against the Brexit deal in its current form which leaves a cloudy outlook for the pound to Canadian dollar rate. Is...
GBP vs CAD exchange rates ahead of 4th meaningful vote in British Parliament

GBP/CAD breaks 1.70 as a Brexit deal nears

The pound has gained ground against all major currencies in trading today, with rumours of a Brexit deal being in sight leading to sterling strength across the board. We have seen a similar situation on a number of occasions over the past few months only to see the rumours shot down and the value of the pound decreasing again fairly rapidly. This time around it does look like we may be actually due to see positive news surrounding a deal and because of that we have...
Brexit continues to dominate the Pound vs Canadian Dollar rate

How will the invocation of Article 50 effect GBP/CAD? (Daniel Johnson)

On Wednesday 29th March Theresa May will push the button, triggering Article 50 and this will officially begin the process of Britain leaving the EU. Despite many analysts predicting Sterling will fall in value against the Canadian Dollar, I am of the opinion Sterling will rally. The market moves on rumour as well as fact. I think The official exit from the EU is already factored into current buoyancy levels on GBP/CAD.  If there is an unpredicted event, or a data release goes against...

Sterling vs Canadian Dollar rates still reeling from the Brexit (Tom Holian)

The Canadian Dollar has continued to strengthen vs Sterling and since the Brexit vote we have seen movements of over 20 cents between GBPCAD exchange rates. This is good news for anyone looking to sell Canadian Dollars to buy Sterling but not so if you need to send money to Canada. The problems earlier in the year involving the wildfires have done little to negatively impact the Canadian Dollar and the focus seems to be well and truly on the problems caused by the Brexit vote. Indeed,...
Canadian Dollar Strength following Bank of Canada Rate Hike

Canadian Dollar Strength following Bank of Canada Rate Hike

The pound still faces a volatile period ahead especially with all the political drama coming from the UK right now. GBP CAD has fallen lower this week with rates for the pair sitting just above 1.73. The Trump visit is making headlines whilst he is in the UK and this is expected to continue right through the weekend especially considering all the global coverage. The actions from US President Donald Trump are having not just an impact in the UK but also Canada in...
Pound to Canadian dollar drops to a 3-month low as cross-party Brexit talks break down

Canadian Dollar Falls as NAFTA is Not a Done Deal

The Pound has made material gains against the Canadian Dollar this week as uncertainty over NAFTA drags the Canadian Dollar lower. With the US preparing to sign an agreement with Mexico but without Canada this is creating an uncertain period for Canadian Dollar exchange rates. Rates for GBP CAD have now broken through 1.70 this morning creating a good opportunity for those clients looking buy Canadian Dollars with Pounds after what has been a torrid couple of weeks for the Pound. The NAFTA uncertainty is...
GBP vs CAD exchange rates ahead of 4th meaningful vote in British Parliament

GBP/CAD exchange rates rebound upwards in run up to Article 50 vote (Joshua Privett)

Pound to Canadian Dollar exchange rates have had a rollercoaster over the past few days, and all due to news emanating from the UK, with events in Canada largely ignored during this tumultuous period for the UK's economic future. Politics is the name of the game at the moment, but economic data did contribute to some of Sterling losses, with lacklustre housing data early in the morning undermining Sterling's value and seeing Pound to Canadian Dollar rates a less attractive prospect by midday yesterday. Since then,...
Interest rate decision for Canada

GBP/CAD surge today a lesson in market hysteria (Joshua Privett)

Today a long morning of panic selling for the Canadian Dollar emerged. Today at 13:30 GMT was the release for Canadian unemployment data. It seems a lot of investors bet that the data would come in much lower than expected after a long run of low oil prices which have hammered the Canadian economy. Before the data release many were selling off their Canadian Dollars in hordes as people were worried that the initial tick down of the rates was suggestive that someone knew something they didn't....
Brexit continues to dominate the Pound vs Canadian Dollar rate

Will GBPCAD hit 1.70 again?

GBPCAD hit 1.70 ten days ago presenting some of the best rates to buy Canadian dollars with pounds since June.  This is great opportunity considering the outlook for the pound remains very uncertain, Stephen Poloz is the Governor of the Bank of Canada and whilst he has been gently weakening the Loonie lately, the currency is likely to strengthen longer term. Overall markets are expecting the pound could come under more pressure than the Loonie dollar as we still know very little about just what...