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    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.

    Updated: Jan 25, 2022  
     

    1 CAD = 0.6425 GBP
    Sell CAD  →  Buy GBP
    CAD to GBP at 0.6422 is 2.7% above its 90-day average 0.6253 with range 0.6066-0.6432.
    |
      1 GBP = 1.5565 CAD
     
    14-DAYHIGH

    CAD/GBP Outlook

    The Ukrainian crisis and risks for an energy crisis in Europe has pushed the Pound down against the Canadian, New Zealand and Australian Dollars. These currencies that normally are vulnerable to ‘risk off’ events, showing the impact of the gas crisis in the UK.

    DateCAD/GBPChangePeriod
    20 Jun 2022
    0.6288
    2.2% 2 Week
    05 Apr 2022
    0.6125
    4.9% 3 Month
    04 Jul 2021
    0.5863
    9.6% 1 Year
    05 Jul 2017
    0.5966
    7.7% 5 Year
    06 Jul 2012
    0.6339
    1.4% 10 Year
    09 Jul 2002
    0.4264
    50.7% 20 Year
    CAD/GBP change over periods to 04-Jul-2022

     

    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.

    Before Russia invaded Ukraine the CAD was being supported by expectations of domestic interest rate hikes – and the oil price was a key driver of CAD strength at the start of the year.

    Since the start of the Russia/Ukrainian war the risk on-off market are pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar (1 USD = 1.27 CAD).

     CAD Outlook

    The outlook for sterling looks challenging in its precarious economic environment. In June, OFX say the pound could trade against the euro between 1.19-1.16 EUR and against the USD between 1.21-1.27 USD.

    The pound hit a 3-Year LOW in mid May near 1.22 against the greenback (1 USD = 0.81 GBP) — on the bleak outlook for the UK economy and after the Federal Reserve started its long anticipated increase of interest rates.

     GBP Outlook

    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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    Posted under: #Forecasts #CAD #GBP
     

    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.