Exchange rate
#2056
Re: Exchange rate
USD is getting weaker for sure - those investors that saw it as a safe haven during the economic crisis are now starting to venture back into other currencies.... The Canadian dollar is giving the US Dollar a beating at the moment - with a bit of luck they could get back to parity again soon
#2058
BE Enthusiast
Joined: Apr 2008
Location: Barrie
Posts: 349
Re: Exchange rate
The pound rally won't last as our economy is truly fecked, and when it starts going down again, I'd expect it to go down further against the CAD
#2060
Re: Exchange rate
1.85! Will it keep going or would it be wise to change anything now?
Any ideas??
Any ideas??
#2062
BE Enthusiast
Joined: Nov 2007
Location: Abbotsford, BC
Posts: 450
Re: Exchange rate
best rate for a long time I'd risk 50% now! Realistically how much higher can it go! there nothing has changed to strengthen the £.
#2063
Re: Exchange rate
It's something to do with the announcement last week that the recession is over in the UK. I have been trickling small amounts through since then so that I always get a better rate than the one before.
Of course the UK still has huge problems so the rate is not going to go on rising indefinitely - we may have to be happy with a top rate of 1.9.
Of course the UK still has huge problems so the rate is not going to go on rising indefinitely - we may have to be happy with a top rate of 1.9.
#2064
Wanna-be Canadian
Joined: May 2008
Posts: 176
Re: Exchange rate
It hit $1.90 to the £ today, now back at $1.89 !!!!
#2065
Re: Exchange rate
Long term the pound will go higher, Canada needs a weaker dollar for exports and the UK pound is closely linked to house prices. Any signs that the housing market is bottoming out then it will show on all rates vs gbp.
In technical terms we may see a drop to a lower support for while and 1.90 may seems like a natural resistance level.
In technical terms we may see a drop to a lower support for while and 1.90 may seems like a natural resistance level.
#2066
Forum Regular
Joined: Jun 2009
Posts: 66
Re: Exchange rate
Long term the pound will go higher, Canada needs a weaker dollar for exports and the UK pound is closely linked to house prices. Any signs that the housing market is bottoming out then it will show on all rates vs gbp.
In technical terms we may see a drop to a lower support for while and 1.90 may seems like a natural resistance level.
In technical terms we may see a drop to a lower support for while and 1.90 may seems like a natural resistance level.
The days of well above 2.00 are still a long way off, commoditiess wil stay strong for a while and the UK economy is still in a bit of a mess, saying that it is impossible to second guess the market, anything is possible!!!
#2067
Forum Regular
Joined: Oct 2007
Location: Vancouver, BC
Posts: 97
Re: Exchange rate
I agree with you there about strong resistance at 1.90, i think anyone needing some in the next few weeks its worth taking somethign in the high 1.80's, i bought a bit with Cornhill FX this afternoon at 1.8855, its not a huge amount though.
The days of well above 2.00 are still a long way off, commoditiess wil stay strong for a while and the UK economy is still in a bit of a mess, saying that it is impossible to second guess the market, anything is possible!!!
The days of well above 2.00 are still a long way off, commoditiess wil stay strong for a while and the UK economy is still in a bit of a mess, saying that it is impossible to second guess the market, anything is possible!!!
That is retail of course, I'm just looking for my recce in 2 weeks...
NJ
#2068
Re: Exchange rate
The rate nearly always drops towards evening (UK) time.
#2069
Forum Regular
Joined: Jun 2009
Posts: 66
Re: Exchange rate
I think you were looking at tourist rates both sides of the market, 2.01 would be the rate to sell Canadian, and 1.79 to but, just shows how much money banks make on exchange
#2070
Joined: Aug 2005
Posts: 14,227
Re: Exchange rate
1 - they can get away with it
2 - the volumes are low
3 - they have to deliver actual currency (notes and coins rather than numbers on a computer screen).
Banks actually don't make a lot of money out of tourists.
As for the exchange rate - who knows what's going on. Suspect that CAD is tracking USD weakness rather than GBP strength. The economic problems (including real-estate deflation) in Canada and the UK are nowhere near over despite some heavy wishful thinking in the media.