Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2018 | 2019 | 2020 | |||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2* | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
Exchange rate to U.S. dollar | |||||||||||||
Euro | USD per EUR | 1.23 | 1.17 | 1.16 | 1.15 | 1.12 | 1.12 | 1.14 | 1.15 | 1.16 | 1.17 | 1.18 | 1.19 |
UK pound | USD per GBP | 1.40 | 1.32 | 1.31 | 1.28 | 1.30 | 1.26 | 1.29 | 1.30 | 1.31 | 1.32 | 1.33 | 1.34 |
Japanese yen | JPY per USD | 106 | 111 | 113 | 110 | 111 | 109 | 107 | 106 | 105 | 104 | 104 | 103 |
Chinese renminbi | CNY per USD | 6.27 | 6.62 | 6.87 | 6.88 | 6.71 | 6.93 | 6.90 | 6.90 | 6.90 | 6.90 | 6.90 | 6.90 |
Exchange rate to Canadian dollar | |||||||||||||
U.S. dollar | USD per CAD | 0.78 | 0.76 | 0.77 | 0.73 | 0.75 | 0.75 | 0.76 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 |
Euro | CAD per EUR | 1.59 | 1.53 | 1.50 | 1.56 | 1.50 | 1.50 | 1.49 | 1.50 | 1.51 | 1.52 | 1.53 | 1.55 |
UK pound | CAD per GBP | 1.81 | 1.73 | 1.69 | 1.74 | 1.74 | 1.69 | 1.69 | 1.69 | 1.70 | 1.72 | 1.73 | 1.74 |
Japanese yen | JPY per CAD | 82.4 | 84.3 | 87.8 | 80.4 | 82.8 | 81.0 | 81.7 | 81.5 | 80.8 | 80.0 | 79.6 | 79.2 |
Chinese renminbi | CNY per CAD | 4.87 | 5.04 | 5.32 | 5.04 | 5.03 | 5.16 | 5.26 | 5.31 | 5.31 | 5.31 | 5.31 | 5.31 |
F: Forecast by TD Bank Group as
at June 2019. All forecasts are end-of-period. Source: Bloomberg, Bank of Canada, Federal Reserve, TD Economics. * Spot rate as at June 14, 2019. |