Foreign Exchange Outlook
Currency Exchange rate 2020 2021 2022
Q1 Q2 Q3 Q4 Q1F Q2F Q3F Q4F Q1F Q2F Q3F Q4F
 Euro   USD per EUR 1.10 1.12 1.17 1.22 1.20 1.21 1.22 1.24 1.25 1.26 1.26 1.26
 UK pound   USD per GBP 1.25 1.24 1.29 1.37 1.39 1.40 1.40 1.40 1.40 1.40 1.40 1.40
 Australian dollar   USD per AUD 0.61 0.69 0.72 0.77 0.77 0.77 0.76 0.75 0.74 0.73 0.73 0.73
 NZ dollar   USD per NZD 0.60 0.65 0.66 0.72 0.72 0.72 0.71 0.69 0.68 0.67 0.67 0.67
 Canadian dollar   CAD per USD 1.41 1.36 1.33 1.28 1.26 1.25 1.24 1.23 1.24 1.25 1.25 1.26
 Swiss franc   CHF per USD 0.96 0.95 0.92 0.88 0.91 0.92 0.93 0.94 0.95 0.96 0.97 0.98
 Japanese yen   JPY per USD 108 108 106 103 106 105 104 103 102 102 101 101
 Chinese renminbi CNY per USD 7.08 7.07 6.79 6.53 6.50 6.55 6.60 6.65 6.70 6.75 6.80 6.80
F: Forecast by TD Economics as at March 2021. All forecasts are end-of-period.
Source: Bloomberg, Federal Reserve, TD Economics.