Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2019 | 2020 | 2021 | |||||||||
Q1 | Q2 | Q3 | Q4 | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
Euro | USD per EUR | 1.12 | 1.14 | 1.09 | 1.12 | 1.09 | 1.08 | 1.09 | 1.10 | 1.11 | 1.12 | 1.13 | 1.14 |
UK pound | USD per GBP | 1.30 | 1.27 | 1.23 | 1.23 | 1.21 | 1.20 | 1.22 | 1.24 | 1.26 | 1.28 | 1.30 | 1.32 |
Australian dollar | USD per AUD | 0.71 | 0.70 | 0.68 | 0.61 | 0.60 | 0.58 | 0.60 | 0.62 | 0.64 | 0.66 | 0.68 | 0.70 |
NZ dollar | USD per NZD | 0.68 | 0.67 | 0.63 | 0.60 | 0.59 | 0.56 | 0.58 | 0.60 | 0.62 | 0.64 | 0.66 | 0.69 |
Canadian dollar | CAD per USD | 1.34 | 1.31 | 1.32 | 1.40 | 1.40 | 1.40 | 1.38 | 1.36 | 1.34 | 1.32 | 1.30 | 1.30 |
Swiss franc | CHF per USD | 1.00 | 0.98 | 1.00 | 0.95 | 0.94 | 0.92 | 0.94 | 0.96 | 0.98 | 1.00 | 1.00 | 1.00 |
Japanese yen | JPY per USD | 111 | 108 | 108 | 106 | 105 | 102 | 103 | 104 | 104 | 103 | 103 | 102 |
Chinese renminbi | CNY per USD | 6.71 | 6.87 | 7.15 | 6.99 | 7.00 | 6.95 | 6.90 | 6.85 | 6.80 | 6.80 | 6.80 | 6.80 |
F: Forecast by TD Economics as at March 2020. All
forecasts are end-of-period. Source: Bloomberg, Federal Reserve, TD Economics. |