GBP CAD Rates Boosted on Brexit Hopes

Sterling hits best rate to buy Canadian Dollars in 21 months (Tom Holian)

The Canadian Dollar has continued to weaken across the board hitting fresh lows against Sterling during the course of this week. The Loonie has fallen after Bank of Canada Governor Stephen Poloz suggested that further interest rate hikes may come slower in order to allow the economy to grow without causing inflationary pressures. The Canadian Dollar has struggled a lot in the last few months partly triggered by the ongoing uncertainty caused by the NAFTA talks which are still far from being sorted. Fears of a trade...

NAFTA discussions cause problems for the Canadian Dollar vs the Pound (Tom Holian)

Although Sterling has been struggling during the last fortnight against a number of currencies owing to the political uncertainty caused by the ongoing saga of the Brexit the Pound has remained very strong vs the Canadian Dollar. The Canadian economy is heavily influenced by what happens with their relationship south of the border and although the US economy is performing very well and oil prices have been rising the Canadian Dollar has still weakened. The problems with the NAFTA deal are still not yet resolved and...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Could the Pound hit 1.80 against the Canadian Dollar? (Tom Holian)

The Pound has continued to remain strong against the Canadian Dollar recently as the NAFTA deal is still causing uncertainty between the US and Canada. This has been going on for months and although there were some positive comments earlier this month it is still far from getting resolved. Indeed, the Canadian Dollar is now close to a three year low against the US Dollar and we are getting close to pre-referendum rates for GBPCAD exchange rates. The problem with NAFTA is that Canada exports...

NAFTA Deal and the impact on Sterling vs Canadian Dollar exchange rates (Tom Holian)

The North Atlantic Free Trade Agreement has been a hot topic over the last few months and the uncertainty surrounding the issue has caused the Canadian Dollar to weaken recently. US President Donald Trump has stated in the deal 'Canada has treated us very, very unfairly when it comes to lumber and timber.' However, Trade Chief Robert Lighthizer has said that things are progressing and 'we're making real headway.' Trump has been very outspoken about the trade deal but Lighthizer appears to be a lot...
Interest rate decision for Canada

Pound hits best rate to buy Canadian Dollar since May 2017 (Tom Holian)

The Pound has hit the best rate to buy Canadian Dollars since last May with the Canadian Dollar weakening in part due to the uncertainty surrounding NATFA. The US Dollar has also weakened to its lowest level against the Pound since the Brexit vote back in June 2016 and this has also caused the Canadian Dollar to weaken vs Sterling. The US Treasury Secretary Steven Mnuchin has been suggesting that the US is welcoming a weaker Dollar which is turn is also weakening the CAD vs...

US Shutdown and Canadian Interest Rates – Impact on GBPCAD exchange rates (Tom Holian)

Despite the Bank of Canada having increased interest rates earlier this week the Canadian Dollar has actually weakened against the Pound during the last few days. Indeed, GBPCAD exchange rates are now at their best trading level since the end of November. The CAD$ has weakened owing to the uncertainty surrounding both NAFTA as well as the problems in the US with the government facing a shutdown. A deadline has been set for midnight tonight as Trump and Republican leaders in Congress are looking to pass a...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

Important Canadian Data due out this afternoon to impact GBPCAD exchange rates (Tom Holian)

The Pound has dropped below 1.70 to buy Canadian Dollars after a poor start to the year for the Pound. Sterling exchange rates across the board have been under pressure and this has been particularly evident against the Canadian Dollar which has strengthened over the last few weeks owing to the rise in oil prices. As Canada is such a huge oil producing nation the rise in value of the price per barrel will often help to strengthen the Canadian Dollar vs Sterling. Later this afternoon Canada...
Canadian economic data to influence direction of GBP/CAD rates

Quiet end to the year for the Pound vs the Canadian Dollar? (Tom Holian)

The Pound vs the Canadian Dollar has remained in a very tight range during the course of the week as the festive season draws ever closer. With few economic data releases coming in the short term I think we could see GBPCAD exchange rates remain in a very tight range until the end of the year which means if you're comfortable with exchanging money at these levels it may be worth getting things organised. The Pound has generally speaking had quite a positive year against the...

The impact of a US interest rate hike on the Canadian Dollar (Tom Holian)

In just a few hours time the US Federal Reserve are likely to be increasing interest rates for the third and final time this year. This will be Janet Yellen's final monetary policy conference before she leaves in February and it would be a major surprise if no rate hike occurs. The Bank of Canada have kept interest rates on hold on the previous occasion but it may not be too long before they have to look at their own monetary policy in the months ahead. As...
GBPEUR rate remains steady as markets await the Autumn Budget

Could the Pound hit 1.70 vs the Canadian Dollar? (Tom Holian)

Sterling vs the Canadian Dollar is now trading close to its best level to buy Canadian Dollars since early November following the release of today's Autumn Statement by Chancellor Philip Hammond. The Pound has been making progress towards 1.70 but has not yet been able to make a sustained berate of this level highlighting the resistance at this particular exchange rate. The price of crude oil is now at a 2 year high of USD$58 per barrel which typically would be a good thing for the...