JamesM

Don't see it going much above the average unless the Brexit decision is reversed.

Interest rates are also rising in Canada as well as oil getting back towards $60. In my 8 years in Canada I've never seen the economy here as strong.

Britain is no longer a hot bed for money and investment. Dublin and Frankfurt are the big winners of that.

scrubbedexpat134

Quick exchange rate Question. When i deposit a Pound Sterling cheque to my Canadian bank account there is a 25 day with holding period to let the cheque clear, do i get the exchange rate at day of deposit or day the cheque clears?

BristolUK

What just happened?

I was due to transfer some ££ to $$ this week and had been keeping my eye on the rate. $1.69 was cosistently coming up, only changing by the third decimal place.

I did the transfer yesterday and it arrived today. I see the rate is now $1.73.

It wasn't a big transfer so only a $14 'loss' but what happened that changed it by 4c from yesterday?

dave_j

The irish, north and south, have both thrown a small bomb into the brexit negotiations. Today, the southern irish, to whom the EU have given a veto on the progression to trade talks, were reported to have come very close to an agreement about the irish border with the UK and this 'good' news directly caused the uptick in the sterling exchange rate.

BristolUK

Well, I'm no expert but I think that would affect today/tomorrow rather than yesterday/today.

glendem4

The move yesterday can be explained by the Bank of Canada actions.

The Canadian Dollar weakened Wednesday after the Bank of Canada kept its overnight policy rate on hold and left markets guessing as to when another interest rate rise might be forthcoming.

https://www.poundsterlinglive.com/ca...ta-uncertainty

The move today can be explained by
https://www.poundsterlinglive.com/gb...t-breakthrough

dave_j

The rise started within minutes of the report of very close to reaching agreement. Was about 1.715 when rise initiated about 6-7 hours ago, currently 1.731.

BristolUK

A bit of both then.



Is this you?

Davita

This is another reason I downloaded TransferWise.
They emailed me yesterday as the GBP/CDN$ had reached a threshold that I inputted to consider to transfer/exchange.

glendem4

The Canadian Dollar has sold off after worse-than-expected growth data in October poured cold water on rising optimism.

The Canadian Dollar has fallen steeply after the release of Canadian GDP showed a lower-than-expected growth rate in October.
Canada's Gross Domestic Product a measure of overall economic growth rose by 0.0% in October according to Statistics Canada.

The result fell below the 0.2% consensus estimate.

The Pound-to-Canadian Dollar shot higher following the result as the Canadian Dollar weakened, moving from a pre-release level of 1.7018 to 1.7105 at the time of writing.

https://www.poundsterlinglive.com/ca...ta-later-today

BristolUK

That all sounds rather dramatic for a one cent change.

BritCanadaNewbie

was looking to change CAD to GBP. Is it worth waiting a few weeks until it levels back to 1.6?

Aviator

CAD to GBP is 0.59 it may go to 0.60 or so, doubt it'll go to 1.6!

Currency is a waiting game, if there was a way to tell, we would all be very well off. I decide a rate I can accept, wait, make the trade when it happens.

BritCanadaNewbie

But exchanging right now is not a correct thing to do.. right ? Its the lowest it’s been for years ?

Aviator

There is no right and wrong. It is what is good for each individual. I am still buying from the UK and pay bills as needed. Over the year it averages out.