CAD to GBP Forecasts
In 2021 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.
SupportCAD/GBP Outlook
| CAD/GBP was | Change | Period |
|---|---|---|
0.5836 12 Jan 2022 | 0.5% ▲ | 2 Weeks |
0.5868 28 Oct 2021 | 0.1% ▼ | 90 Days |
0.5734 26 Jan 2021 | 2.3% ▲ | 1 Year |
0.6060 27 Jan 2017 | 3.2% ▼ | 5 Years |
0.6356 29 Jan 2012 | 7.7% ▼ | 10 Years |
0.4465 31 Jan 2002 | 31.4% ▲ | 20 Years |
Canadian dollar to British pound forecasts
The CAD has enjoyed its highest levels against the USD since March 2020. No other currency pair experienced such a dramatic swing in 2021. Along with global equities, the CAD continues to increase with increased risk appetite.
The pound’s direction will be determined by any positive or negative headlines around the potential full reopening of the economy in England.
Into 2022 CAD is being supported by expectations of domestic interest rate hikes – but the oil price has been a key driver of CAD strength at the start of the year.
The pound has been resilient enough to withstand Prime Minister Boris Johnson’s troubles. However, if he implements any new taxes for consumers in a nation that is already in a tough economic situation then it will likely have a significant effect on the currency.
But despite this, the British pound has had a good start to the year—its best start to a year since 2018.
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.
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Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.