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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: Oct 09, 2021  
     

    1 CAD = 0.5881 GBP
    Sell CAD  →  Buy GBP
    CAD to GBP at 0.5881 has risen 1.8% above its 90-day average, range 0.5695-0.5911.
    |
      1 GBP = 1.7004 CAD
     
    90-DAYHIGH3d

    CAD/GBP Outlook

    The energy crisis combined with a ‘risk off’ market sentiment has pushed the Pound down against the Australian, New Zealand and Canadian Dollars. These currencies that normally are vulnerable to ‘risk off’ events, showing the impact of the gas crisis in the UK.

    CAD/GBP wasChangePeriod
    0.5838
    04 Oct 2021
    0.8% 2 Weeks
    0.5786
    20 Jul 2021
    1.7% 90 Days
    0.5869
    18 Oct 2020
    0.3% 1 Year
    0.6204
    19 Oct 2016
    5.2% 5 Years
    0.6217
    21 Oct 2011
    5.4% 10 Years
    0.4468
    23 Oct 2001
    31.7% 20 Years
    CAD/GBP change over periods to 18-Oct-2021

     

    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.

    ING think CAD is in oversold territory. They expect more tapering by the Bank of Canada to support the Canadian dollar into year-end, and the short positioning may help limit the loonie’s downside. CAD Outlook

    The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.

    OFX predict the GBP could range between 1.33 – 1.38 USD and against the euro between 1.14 – 1.18 EUR.

    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.