Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2019 | 2020 | 2021 | |||||||||
Q1 | Q2 | Q3* | Q4F | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
Exchange rate to U.S. dollar | |||||||||||||
Euro | USD per EUR | 1.12 | 1.14 | 1.10 | 1.09 | 1.10 | 1.12 | 1.13 | 1.14 | 1.15 | 1.16 | 1.17 | 1.18 |
UK pound | USD per GBP | 1.30 | 1.27 | 1.25 | 1.21 | 1.22 | 1.23 | 1.24 | 1.25 | 1.26 | 1.27 | 1.28 | 1.29 |
Japanese yen | JPY per USD | 111 | 108 | 108 | 107 | 106 | 105 | 104 | 103 | 103 | 102 | 102 | 101 |
Chinese renminbi | CNY per USD | 6.71 | 6.87 | 7.09 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 | 7.15 |
Exchange rate to Canadian dollar | |||||||||||||
U.S. dollar | USD per CAD | 0.75 | 0.76 | 0.75 | 0.75 | 0.76 | 0.76 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 |
Euro | CAD per EUR | 1.50 | 1.49 | 1.47 | 1.45 | 1.45 | 1.47 | 1.47 | 1.48 | 1.50 | 1.51 | 1.52 | 1.53 |
UK pound | CAD per GBP | 1.74 | 1.66 | 1.66 | 1.61 | 1.61 | 1.61 | 1.61 | 1.63 | 1.64 | 1.65 | 1.66 | 1.68 |
Japanese yen | JPY per CAD | 82.8 | 82.4 | 81.6 | 80.5 | 80.3 | 80.2 | 80.0 | 79.2 | 78.8 | 78.5 | 78.1 | 77.9 |
Chinese renminbi | CNY per CAD | 5.03 | 5.25 | 5.33 | 5.38 | 5.42 | 5.46 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 |
F: Forecast by TD Bank Group as
at September 2019. All forecasts are end-of-period. Source: Bloomberg, Bank of Canada, Federal Reserve, TD Economics. * Spot rates as at September 18, 2019. |