Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2019 | 2020 | 2021 | |||||||||
Q1 | Q2 | Q3* | Q4F | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
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 |
Australian dollar | USD per AUD | 0.71 | 0.70 | 0.68 | 0.68 | 0.69 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 | 0.70 |
NZ dollar | USD per NZD | 0.68 | 0.67 | 0.63 | 0.64 | 0.65 | 0.67 | 0.68 | 0.69 | 0.69 | 0.69 | 0.69 | 0.69 |
Canadian dollar | CAD per USD | 1.34 | 1.31 | 1.33 | 1.33 | 1.32 | 1.31 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 |
Swiss franc | CHF per USD | 1.00 | 0.98 | 1.00 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
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 |
F: Forecast by TD Bank Group as
at September 2019. All forecasts are end-of-period. Source: Bloomberg, Federal Reserve, TD Economics. * Spot rates as at September 18, 2019. |