March 11, 2021 - Written by John Cameron
GBP/CAD Exchange Rate Dips Following BoC Rate Statement
The Pound to Canadian Dollar (GBP/CAD) exchange rate fell by -0.2% following yesterday’s interest rate decision from the Bank of Canada (BoC) which saw rates left on hold. The pairing is currently fluctuating around CA$1.75.
Now that the BoC is essentially playing a game of wait-and-see, CAD investors are becoming more cautious about the outlook for the nation’s economy, despite relatively strong indications of growth.
Canada’s central bank stated that the economy was ‘proving to be more resilient than anticipated to the second wave of the virus.’
January 7, 2021 - Written by John Cameron
GBP/CAD Exchange Rate Rangebound as UK GPs and Pharmacies to Rollout Covid-19 Vaccine
The Pound to Canadian Dollar (GBP/CAD) exchange rate held steady today, with the pairing currently trading around CA$1.72.
Sterling benefited from news that UK GP’s surgeries and pharmacies would be allowed to rollout out the new Oxford/AstraZeneca Covid-19 vaccine.
As a result, GBP investors are becoming more hopeful that the UK could vaccinate large swathes of the vulnerable and at-risk population by mid-February.
Nevertheless, rising Covid-19 cases throughout England are dampening confidence in Sterling.
In UK economic data, today saw the release of December’s UK Construction PMI, which reassured markets at 54.6.