Convert GBP to CAD
The GBP/CAD currency pair sees a movement of around 150 pips on average.
GBP/CAD sees considerable movement on the release of key economic data from the UK and Canada, including GDP, employment, inflation, trade balance, retail sales, industrial production and business sentiment.
Both the Pound Sterling as well the Canadian dollar are impacted by decisions related to the monetary policy and interest rates taken by the Bank of England (BOE) and the Bank of Canada (BOC) respectively. For instance, if the BOE hikes interest rates or adopts a more hawkish approach towards its monetary policy, the GBP strengthens and this pair trades bullish, and vice versa.