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-   -   Exchange Rate (http://britishexpats.com/forum/canada-56/exchange-rate-905304/)

glendem4 Oct 31st 2017 5:21 pm

Exchange Rate
 
Glad to see the £ is getting a bid today and now above $1.71. Target upside in the short term is $1.73 and hopefully a retest of $1.77 if the BOE announce the possibility of more interest rate rises in 2018.

For people moving to Canada from UK let's hope Brexit issues get resolved soon, otherwise the £ could be weak for another 2-3 years like it was from 2009-2013

Hurlabrick Oct 31st 2017 5:50 pm

Re: Exchange Rate
 
Quote:

Originally Posted by glendem4 (Post 12371898)
Glad to see the £ is getting a bid today and now above $1.71. Target upside in the short term is $1.73 and hopefully a retest of $1.77 if the BOE announce the possibility of more interest rate rises in 2018.

For people moving to Canada from UK let's hope Brexit issues get resolved soon, otherwise the £ could be weak for another 2-3 years like it was from 2009-2013

Good luck with all that. I hope it will climb too. But 'conventional wisdom' says that the markets have already 'priced in' a likely UK base rate rise in a couple of days - so perhaps $1.72. If there is no rate rise, get ready for it to slump back down to $1.64ish IMHO.

At the end of the day of course even the experts don't know.

Absolutely agree with you about getting BREXIT resolved soon, or at least starting trade talks. All of this politically inspired nonsense is hurting real people who want to get on with their lives!

glendem4 Oct 31st 2017 6:01 pm

Re: Exchange Rate
 
Sterling spikes as chief Brexit negotiator Michel Barnier indicates that he is ready to speed up Brexit talk

Pound spikes as Michel Barnier says he's ready to speed up Brexit talks

Aviator Oct 31st 2017 7:02 pm

Re: Exchange Rate
 
Quote:

Originally Posted by glendem4 (Post 12371898)
otherwise the £ could be weak for another 2-3 years like it was from 2009-2013

For some it has been weak for way longer than that. We used to expect a low of 2.25, sometimes up to 2.62

Hurlabrick Nov 1st 2017 11:40 am

Re: Exchange Rate
 
Quote:

Originally Posted by Aviator (Post 12371986)
For some it has been weak for way longer than that. We used to expect a low of 2.25, sometimes up to 2.62

An average exchange rate of £1.00 = $2.00 would be truly wonderful, but is currently beyond my wildest dreams of avarice for the next couple of years!

But hey - who knows!

Yorkiechef Nov 2nd 2017 3:32 am

Re: Exchange Rate
 
Quote:

Originally Posted by Hurlabrick (Post 12372477)
An average exchange rate of £1.00 = $2.00 would be truly wonderful, but is currently beyond my wildest dreams of avarice for the next couple of years!

But hey - who knows!

I had the option of that exchange rate right upto the BREXIT vote, I moved three weeks later having not taken advantage of that rate. Now I'm earning big bucks in Canada, I want it the other way, bring back 1.50!

jerryhung Nov 2nd 2017 5:02 am

Re: Exchange Rate
 
I hate Brexit.

Hurlabrick Nov 3rd 2017 9:26 am

Re: Exchange Rate
 
$1.672 today post-BOE rate rise - significantly below the 1.71 it was at immediately before. Shows you how hard things are to predict.

Glad I tranferred a tranche a day earlier at 1.70.

AshMyl Nov 4th 2017 12:34 am

Re: Exchange Rate
 
Quote:

Originally Posted by Hurlabrick (Post 12373862)
$1.672 today post-BOE rate rise - significantly below the 1.71 it was at immediately before. Shows you how hard things are to predict.

Glad I tranferred a tranche a day earlier at 1.70.

Lucky you!!! I missed this boat! this time anyways:fingerscrossed:

glendem4 Nov 21st 2017 9:10 am

Re: Exchange Rate
 
GBPCAD hovering close to $1.70 this morning.

Let's hope the UK government starts Trade talks with the EU in December and the exchange rate can pop up to $1.75

Last 5 years GBPCAD
Highest: 2.0978
Lowest: 1.5237
Difference: 0.5741
Average: 1.7682

glendem4 Nov 29th 2017 6:57 am

Re: Exchange Rate
 
$1.71453 this morning. Several news items could boost the £ if Russia pulls out of the agreement to limit oil production at the next OPEC meeting on Thursday and the EU and UK agree talks can proceed on trade on Monday 4th December. Recent low on 13 November at $1.66 and high of $1.715 on 01 November

Hurlabrick Nov 29th 2017 12:26 pm

Re: Exchange Rate
 
Quote:

Originally Posted by glendem4 (Post 12390835)
$1.71453 this morning. Several news items could boost the £ if Russia pulls out of the agreement to limit oil production at the next OPEC meeting on Thursday and the EU and UK agree talks can proceed on trade on Monday 4th December. Recent low on 13 November at $1.66 and high of $1.715 on 01 November

Fingers crossed! Keep going!!!

AshMyl Nov 30th 2017 10:55 pm

Re: Exchange Rate
 
$1.74 tonight... can someone let us know when it is at it's peak.. :rofl::eek:

Let's hope it keeps rising:fingerscrossed:

Edo Dec 1st 2017 1:18 am

Re: Exchange Rate
 
Quote:

Originally Posted by glendem4 (Post 12390835)
$1.71453 this morning. Several news items could boost the £ if Russia pulls out of the agreement to limit oil production at the next OPEC meeting on Thursday and the EU and UK agree talks can proceed on trade on Monday 4th December. Recent low on 13 November at $1.66 and high of $1.715 on 01 November

Unfortunately this didn't happen cuz Russia decided that they want to continue with the cut extension.

dave_j Dec 1st 2017 3:47 pm

Re: Exchange Rate
 
Peaked overnight but managed to get 1.745 yesterday, fell today as canadian figures came out that was much expected to be good. Currently 1.718.


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