British Pound, Canadian Dollar vs. US dollar!?
I know that in recession or not, GBP is the highest valued currency among the three. However, looking a 6month view of these three currencies exchange rates give me a headache (haha)
GBP decline from 2.1 US dollar to now, 1.37
CAD decline from 0.99 US dollar to now, 1.29
Can i ask, what really affects CAD and GBP strength? i know, that it deals, with the foreign trade and central bank’s interest… I’m from the Philippines. I’m affected because my mom (who works abroad) sends us US dollar as our monthly allowance. I collect CAD and GBP for my savings.
During recession, like now. What is the most trusted currency aside from the US dollar?
Limiting the options, to CAD and GBP,which will you buy? (suppose u need to really buy)
pls i need an economic thinking… pls answer me throughly
i stand corrected— above rates must be… 1 CAD = U{content}.77 not 1.29
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Tagged with: CAD • currencies exchange rates • currency • decline • dollar • gbp • headache • Philippines • recession
Filed under: Currencies
hmmm. The pound is actually the LEAST valued currency among those quoted. The USD is very strong, the CAD is about medium due to the fall in oil prices (they export lots of oil – US imports alot which is another reason for dollar strength)
The things that affect the value of any currency are Economic data (interest rates, recession etc) – political data, natural disasters and acts of war.
In times of economic gloom, the USD is always a safe haven currency. Due to quantitative easing which starts in the UK today, the pound is likely to continue to weaken. So, this means its cheaper to buy. If I have USD, I’d convert to GBP as its weak (cheap to buy) and less prone to movements on commodity prices (like oil for the CAD)
Hope this helps. Look at site below for more info on currency strength.
In the current economic climate all bets are off and nobody can predict.
With regard to which to buy, a lot can depend on how long you plan to hold.