Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2020 | 2021 | 2022 | |||||||||
Q1 | Q2 | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
Euro | USD per EUR | 1.10 | 1.12 | 1.19 | 1.19 | 1.20 | 1.21 | 1.23 | 1.24 | 1.25 | 1.25 | 1.25 | 1.25 |
UK pound | USD per GBP | 1.25 | 1.24 | 1.29 | 1.31 | 1.33 | 1.34 | 1.36 | 1.37 | 1.38 | 1.40 | 1.40 | 1.40 |
Australian dollar | USD per AUD | 0.61 | 0.69 | 0.73 | 0.74 | 0.75 | 0.75 | 0.74 | 0.74 | 0.73 | 0.73 | 0.73 | 0.73 |
NZ dollar | USD per NZD | 0.60 | 0.65 | 0.67 | 0.68 | 0.69 | 0.69 | 0.68 | 0.68 | 0.67 | 0.67 | 0.67 | 0.67 |
Canadian dollar | CAD per USD | 1.41 | 1.36 | 1.31 | 1.30 | 1.29 | 1.28 | 1.29 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 |
Swiss franc | CHF per USD | 0.96 | 0.95 | 0.91 | 0.90 | 0.91 | 0.92 | 0.93 | 0.94 | 0.95 | 0.96 | 0.96 | 0.97 |
Japanese yen | JPY per USD | 108 | 108 | 106 | 105 | 105 | 104 | 104 | 103 | 103 | 103 | 103 | 102 |
Chinese renminbi | CNY per USD | 7.08 | 7.07 | 6.80 | 6.90 | 6.90 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 |
F: Forecast by TD Economics as at September 2020.
All forecasts are end-of-period. Source: Bloomberg, Federal Reserve, TD Economics. |