The Pound to Canadian Dollar rate has fallen to new post-referendum lows and could be set to remain under pressure ahead of next week’s UK wage data and Bank of England (BoE) policy decision due to a more hawkish turn in the Bank of Canada’s (BoC) interest rate stance.

June 6,2022

The Canadian Dollar climbed over and above all major currency counterparts barring the U.S. Dollar while clobbering Pound Sterling in the mid-week session after the Bank of Canada (BoC) announced a second large increase to its cash rate and said it could act “more forcefully” if needed.

June 1,2022

The Pound to Canadian Dollar rate opened the new week on its back foot but could attempt to retest a nearby technical resistance barrier around 1.6157 overhead on the charts if the Bank of Canada (BoC) signals on Wednesday that a slower pace of interest rate rises may be likely up ahead. 

May 30,2022

The Canadian Dollar has underperformed alongside its U.S. counterpart this week in price action that is indicative of an emerging vulnerability in the North American currency complex, one that could help to support the GBP/CAD exchange rate during the weeks and months ahead. 

May 26,2022

The Pound to Canadian Dollar exchange rate has lifted tepidly from close to three-year lows and has been aided by a supportive turn in UK government bond yields, although it could struggle to advance much beyond the 1.6150 level this week due to the ongoing resilience of the Loonie.

May 23,2022

The Pound to Canadian Dollar exchange rate has stabilised following a nine percent decline since Russia began its faltering conquest of Ukraine, although it could struggle for momentum upon any recovery above 1.59 in the days ahead due to a resilient Loonie and softer Sterling. 

May 16,2022