Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates
 

CAD to GBP 2024 Forecasts

Analysis of recent Loonie → Sterling forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Canadian dollar to Pound Sterling performance and trends.

 

Forecasts for CAD to GBP

 

Based on recent exchange rate analyst forecasts and currency market updates, the Canadian dollar (CAD) is being influenced by its correlation with the US dollar and oil prices. Despite a drop in oil prices, the CAD has firmed up, with expectations that its performance will continue to be linked to oil price dynamics. FX analysts anticipate that the CAD could face challenges if the Bank of Canada (BoC) implements interest rate cuts, potentially leading to a weaker exchange rate against the US Dollar and other major currencies. CIBC Capital Markets has adjusted their year-end forecast for the USD/CAD exchange rate in 2024 to 1.31, indicating a stronger US Dollar against the Canadian Dollar next year, but they are optimistic about the CAD in 2025.

On the other hand, the British pound (GBP) has experienced downward pressure following comments from Bank of England (BoE) Governor Andrew Bailey hinting at possible future interest rate cuts. This has dampened market sentiment towards the GBP, with expectations of a potential rate cut in June contributing to the pound's decline. FX analysts, including HSBC and RBC, foresee further weakness in the GBP against the US Dollar in the second half of the year, citing risks such as political uncertainty in the UK and the possibility of a stagflationary environment impacting the pound negatively.

The CAD to GBP exchange rate has been trading near its 30-day highs around 0.5852, within a stable range between 0.5749 and 0.5945. Meanwhile, Oil to USD prices have been at 90-day highs near 87.50, up 7.2% from its 3-month average, and have exhibited volatility within a 15.0% range. These oil price movements can impact the Canadian dollar due to Canada's significant oil exports, further influencing the CAD to GBP exchange rate dynamics in the upcoming period.

 
@bestfxrates : 📉 Oil's dip hasn't dampened CAD strength, trading near 30-day highs at 0.5852 vs GBP. BoC moves may sway CAD, but eyes on oil for cues. GBP faces rate cut headwinds, with analysts predicting weakness ahead. Market view eyes CADGBP stability despite global shifts. #CADGBP #ForexUpdate

Multi-Vendor Quote

We can help you get an even better deal when sending a Large International Money Transfer.

Click below for the Request Quotes form and enter your transfer details (BER account required).

Request Quotes

Save time and money - fewer websites to visit and you get a much better exchange rate & service.

Loading rates...

   
 
 

CAD to GBP Market Data

Canadian dollar (CAD) to Pound Sterling (GBP) market data - latest interbank exchange rate, trend, chart & historic rates.

 
1 CAD =
0.5851We compare provider deals to this wholesale mid-market rate. Read more
GBP
+0.4%
📈1M
CAD to GBP is at 30-day highs near 0.5852, near its 3-month average, having traded in a very stable 3.4% range from 0.5749 to 0.5945
|
Sell CAD   →   Buy GBP
My Rates

Manage My Rates   


Compare & Save - Canadian dollar to Pound Sterling

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to Pound Sterling (GBP) rates from different sources before making a conversion.

Use our CAD to GBP calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Loonie to Sterling currency rates and the possible savings of using various providers.

 
DateCAD/GBPChangePeriod
14 Mar 2024
0.5796
0.9% 2 Week
29 Dec 2023
0.5919
1.2% 3 Month
29 Mar 2023
0.5987
2.3% 1 Year
30 Mar 2019
0.5743
1.9% 5 Year
31 Mar 2014
0.5428
7.8% 10 Year
02 Apr 2004
0.4148
41% 20 Year
CAD/GBP historic rates & change to 28-Mar-2024
 

Will the Canadian dollar rise against the Pound Sterling?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add CAD/GBP to your personalised Rate Tracker to track and benefit from currency movements.

 
Track Rate
 

Manage My Rates   

 

Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

Keep track of currency Trends; Up📈 or Down📉 trends over periods from 1 week (1W) to 3 months (3M).

Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending


 

Read our Currency guide to the United Kingdom - a practical currency and money guide to travel, living and doing business in the United Kingdom with the Pound Sterling.

 
 

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more