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.
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.
You can read more about CAD cross-rate forecasts here CAD Trends and Forecasts for 2020.
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.
18 Jan 2021
|0.6% ▼||1 Week|
26 Dec 2020
|0.3% ▲||30 Days|
27 Oct 2020
|1.3% ▼||90 Days|
26 Jan 2020
|1.3% ▼||1 Year|
27 Jan 2016
|15.5% ▲||5 Years|
28 Jan 2011
|9% ▼||10 Years|
CAD/GBP 10 year historic rates & change to 25-Jan-2021 : 0.5740