Fxpips.com – Shifts in Oil prices sparked demand for the Canadian currency exchange rates prior to the weekend session, with the British sterling having difficulty regaining its bullishness during the past few days. Where next for the British pound to CAD rate in latest forex forecast?
While members of the Federal Open Market Committee (FOMC) remained hawkish in their statements thru last week, it was not enough from keeping the loonie exchange rates from making a solid advance versus its key counterparts.
This was mainly the result of oil prices, as lower US oil reserves pushed Brent crude to rally above the US$50 a barrel level, which provided some needed relief to the Canadian dollar's recovery.
The Pound to Canadian Dollar exchange rate (GBP/CAD) on Tuesday converts at 1.907. The CAD to GBP exchange rate converts at 0.524 today.
As of presstime, the Canadian loonie to US greenback exchange rate is quoted at 0.768.
Today's GBP to CAD exchange rate is set to see severe volatility on the posting of the Canadian gross domestic product report at 1.30 p.m.
Source ↔ Download Lagu Online