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As promised here’s a brief update on what’s been happening with the Canadian Dollar over the last week.

Canada’s dollar rebounded from the lowest level in almost two months as stocks rose from the day’s lows, crude oil climbed and traders suggested recent declines were overdone.

CAD dropped as risk aversion drove global stocks lower and weakened the outlook for currencies tied to growth. It’s down 0.8 percent this year. A faltering economic recovery means the chances for further Bank of Canada interest-rate increases in 2010 are reducing, dampening the currency’s appeal.


GBP/CAD movement – High’s & Low’s of last week (23rd August– 27th August)

High’s: 1. 6477
Low's: 1. 6247

A movement of 1.43%

Difference on £200,000

High: CAD 329,540
Low: CAD 324,940

Difference of: CAD 4,600

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards


Mark Bodega
Director - HiFX