Re: pound getting weaker?...
 

exactly by the pound getting stronger we get more CAD$ for the £. I attached my comment to this thread as it was the last exchange rate thread i could find.

Re: pound getting weaker?...
 

Watching how this kind of thread comes up every now and then I don't know how any of you guys ever end up bringing your money over. When we moved we needed our cash over here pretty quickly to buy our house and in the end we got quite a poor rate because it dropped a lot during the summer of 2004.

If we'd been in the position of choosing when to bring it over I think I'd have had to set a reasonable minimum figure and go when it reached that. Some of you must really tie yourself up in knots wondering if it will creep up a little bit more..or a bit more..oh, it's dropped again! I understand the problem I'm just glad that our hand was forced and then all I had to do was try not to think how much more we might have made or lost!

Re: pound getting weaker?...
 

i think for most of us stepnek me included, we are still waiting to be in a position to be able to send our money either waiting for houses to sell or waiting for visa's. Like you when we are in a position to send the money i won't be particuarly bothered what the rate isn:D

Re: pound getting weaker?...
 

Yep - that's us !!!
Sold our house in January - and the balance has been sitting either in a high interest account or been placed on the money markets on fixed-term deposits. Then we had to wait for the job offer - which has now come through - but then I tied the money up for a further month.
A rise in the exchange rate of one or two cents negates the interest we are making here :ohmy:
I can barely look at the rate at the moment - the pennies are locked away till 10th April now - and after that it can all go to Canada. Of course, there is absolutely no way of predicting how much it will be worth and I just do my little 'exchange rate' dance and hope for the best (for me, selfish cow! :p ) .

Re: pound getting weaker?...
 

Signs of the dollar getting stronger will only weaken the pound.

http://www.cbc.ca/money/story/2007/0...ation-feb.html

Inflation was higher than expected so expect no interst rate cuts in Canada. There has even been speculation of a rise in interest rates, but that looks unlikely in the immediate future.

Coupled with this is the price of oil rising, which is always going to have a more positive effect on the strength of the dollar versus the pound.

I doubt its going to vary much in the near future, expect a rate of 2.2-2.35 for at least the next few months.

Re: pound getting weaker?...
 

What are reasons this week behind a drop from 2.28 to 2.25?

Just within the history of this thread, the rate has dropped from 2.32 to 2.25 and I know it can be a bit hit or miss sometimes ... but the difference for me is a car !!

Re: pound getting weaker?...
 

minutes came out from the Federal Reserve wednesday night, indicating the market initially reacted wrongly to the last Fed meeting. They say they are still bias towards raising rates and not even considering a cut yet. This is positive for US$ and inturn CAD$. Also, ECB yesterday said pretty much same strong for Euro. Whereas with BOE we have priced in 1 further rise probably June after that on hold for a long time. This takes a temporary bid away from sterling, however as soon as FED cut and i believe they will later this year, that is when £ will rise again against CAD$.

Re: pound getting weaker?...
 

Sterling is on the way up again today after the release of more bad UK inflation figures this morning.

Unfortunately the CAD doesn't seem to be tracking the USD quite so closely these days as we've seen the $2 (US) pound this morning!

Still, the Canadian rate is up in the high 2.26's now from the low 2.25's earlier.

Cheers, Iain

From The BBC: