Canadian Dollar Exchange Rate News

Despite Canadian Dollar weakness earlier in the week, the currency experienced a fresh surge in demand after yesterday’s Bank of Canada (BoC) policy decision and the British Pound to Canadian Dollar (GBP/CAD) exchange rate plummeted again. Since opening this week at the level of 1.7305, GBP/CAD has been trending with an upside bias as the Canadian Dollar continued to sold back from recent highs. GBP/CAD surged earlier in the week, and on Tuesday night touched on a high of 1.7584. This was the best level for the pair in a month....

The Pound New Zealand Dollar (GBP/NZD) exchange rate eased today, leaving the pairing fluctuating around NZ$1.850. Sterling fell against the New Zealand Dollar following the announcement of the Bank of England’s interest rate decision today, which held at 0.75%. However, Mark Carney, the Governor of the BoE, was downbeat in his forecast, saying that the UK could face a likely recession on a no-deal Brexit – a prospect that now looks highly likely. Mr Carney said: ‘After a no-deal Brexit, sterling would likely fall, risk...

The Pound Canadian Dollar (GBP/CAD) exchange rate dropped by -0.9%, leaving the pairing fluctuating around CA$1.618. Sterling plummeted against many of its competitors today as no-deal Brexit fears soared following Tory leadership hopefuls Boris Johnson and Foreign Secretary Jeremy Hunt have hardened in their position on the Northern Irish backstop. Both potential prime ministers commented that the backstop idea was effectively ‘dead’, and would not be included in negotiations with the European Union. Neale Richmond, the...

The Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate made solid gains on Thursday morning after the UK and EU agreed an expanded political declaration on their future relationship. This development prompted markets to lower the odds of a no-deal Brexit, giving the Pound a strong boost across the board. Although reaction to the details of the declaration proved mixed, with many MPs still appearing minded to vote against the proposed Brexit deal, this was not enough to weigh down GBP exchange rates. Even the threat of...

Despite a hawkish tone taken by the Bank of Canada (BoC) during the bank’s policy decision this week, the US Dollar to Canadian Dollar (USD/CAD) exchange rate saw some late week climbs as investors remained hungry for safe haven currencies. After opening the week at the level of 1.3088, USD/CAD saw tight movement for most of the week until the Bank of Canada’s policy decision, which knocked the pair to a weekly low of 1.2976. However, after that the US Dollar quickly recovered against the Canadian Dollar. At the time of writing...

Hopes for a more optimistic Brexit outlook briefly cause a surge in demand for the British Pound to Japanese Yen (GBP/JPY) exchange rate last week. However, due to fresh uncertainties and another market rush for ‘safe haven’ currencies, GBP/JPY has already shed last week’s gains. Last week saw GBP/JPY open at the level of 142.84, and the pair climbed for most of the week. On Thursday, GBP/JPY briefly touched on a 3-week-high of 145.61, but ultimately ended the week nearer 143/84. This week so far GBP/JPY has continued to slide...

Pound Sterling to US Dollar (GBP/USD) Exchange Rate Drops after Fresh Brexit Upset The Pound (GBP) has fallen back against the US Dollar (USD) today, struggling in the pairing because of Brexit-related uncertainty. The current issue is the customs union ‘backstop’, an emergency measure that would be activated if the UK fails to reach an agreement on the Irish border. The backstop is designed to prevent a hard border between Ireland and Northern Ireland, but exactly when the arrangement ends is not entirely clear. Despite...

Pound to Canadian Dollar (GBP/CAD) Exchange Rate Rises as Retail Sales Stats Beat Forecasts The Pound to Canadian Dollar exchange rate (GBP/CAD) dipped on Wednesday’s trading session, but has since risen by 0.5% thanks to UK retail sales data for April. The readings have shown levels of sales rise by more than expected during April, on the month and the year with and without fuel sales included. While the GBP/CAD exchange rate has clearly been supported by the data, economists have given a more mixed reaction to the...

US Dollar Shakes Off Syrian Intervention Concerns with 0.3% USD/CAD Exchange Rate Rise The US Dollar’s advance against the Canadian Dollar today has come at a troubling time for the US, as the country appears to once again be on the brink of war in the Middle East. Echoing events from a year ago, in the wake of a suspected chemical weapons attack by the Syrian government US President Donald Trump has threatened to attack Syria. At the time in 2017, Trump limited his actions to a solitary missile strike on an airbase, but all...

- ECB Removes Easing Bias but Extends QE Measures until SEPTEMBER – Euro (EUR) Exchange Rates Suffer - The Pound Euro (GBP/EUR) exchange rate climbed on Friday, capitalising on comments from European Central Bank (ECB) President Mario Draghi which downplayed the bank’s decision to remove its easing bias in the March statement. The removal of said bias was initially deemed a hawkish indication from the central bank, with markets leaping at the prospect that the ECB was preparing to make good on normalising monetary policy. Mr...