In 2020 forecasts and predictions for the CAD/GBP exchange rate have been driven almost entirely by the Coronavirus pandemic rather than any fundamentals or relative sentiment towards the Canadian and British economies.
Canadian dollar to British pound forecasts
It has been a volatile year for CAD/GBP which has oscillated between in a 8 percent band between 0.56 and 0.60, making it important for British or Canadian expat workers, who represent one of the largest groups remitting money from both countries to keep an eye on the exchange rate.
CADGBP at 0.5690has fallen 0.6% below its 90-day average, range 0.5623-0.5824.
Alerts:4D▼-1.6% | 30D▼LOW |
Note that forecasts and predictions for the CAD/GBP exchange rate change all the time, affected by news events and relative sentiment towards the Canadian and British economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coronavirus pandemic.
The CAD has enjoyed its highest levels against the USD since March 2020. No other currency pair experienced such a dramatic swing since the election was called. Along with global equities, the CAD continues to increase with increased risk appetite.
Whether the Canadian dollar will rise or drop in the future versus the pound is a difficult question and the answer really depends on many factors. The best way to consider the current CAD-GBP relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
12 Apr 2021
20 Mar 2021
19 Jan 2021
19 Apr 2020
20 Apr 2016
22 Apr 2011
CAD/GBP 10 year historic rates & change to 19-Apr-2021 : 0.5707
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