The Pound to Canadian Dollar sold off steeply after an inconclusive election result weighed on the Pound.
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The Pound to Canadian Dollar fell over 2.3% overnight after the UK election returned a politically unstable hung parliament.
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The Canadian Dollar slipped in the wake of a dramatic slump in global oil prices.
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The balance of risks favour more upside for GBP/CAD as the falling price of oil weighs on CAD, and the UK elections on Thursday favour a conservative win.
Read more … →National Bank of Canada have told clients they remain positive on the Canadian Dollar’s prospects over the medium-term period.
Read more … →Sterling is clawing back gains against the Canadian Dollar after the pair bottomed at 1.7190 before the weekend.
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The Canadian Dollar could well undergo volatile swings in the week ahead as the standout event on the calendar is likely to be the meeting of the Oil Cartel OPEC on Thursday, June 1.
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