What influences the GBP/CAD rate?

The GBP/CAD rate is heavily influenced by the performance of the US Dollar and the Euro and related economic and political events. Follow the GBP/CAD chart and our GBP/CAD forecasts for the latest on the Pound-Canadian Dollar price movements. Our expert news and analysis articles will further help you plan your trades.

What is USD/CAD?

USD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis.

What is the GBP/CAD exchange rate?

At the time of writing, the GBP/CAD exchange rate is trading at around CA$1.6597, roughly down 0.4% from today’s opening levels. The Pound (GBP) is dropping against the Canadian Dollar (CAD) today after the Bank of England (BoE) hiked interest rates. As expected, the BoE raised interest rates from 0.5% to 0.75%.

Why do investors buy more CAD compared to CAD?

As a result, investors will buy more CAD, driving up the demand for the currency, and increasing its value relative to the USD. On the other hand, when interest rates in the US are higher than those in Canada, the USD typically appreciates relative to the CAD.