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GBP vs CAD currency overview for 19th February 2018The Pound to Canadian Dollar exchange rate put in strong gains last week, as Sterling benefitted from Brexit hopes allowing it to make easy gains against a weaker Canadian Dollar.
Recent Canadian data has been underwhelming and investors also remain concerned about the North American Free Trade Agreement (NAFTA), which the US has indicated it wishes to renegotiate.
Towards the end of this week, Canadian Dollar movement could be influenced by the latest Canadian retail sales and inflation figures.
GBP vs CAD trend analysis for 19th February
Both the long term (green line) and recent trends (blue line) show that GBP-CAD is trending upwards.
As the Pound is generally strengthening against the CAD, this means that you should receive more Pounds for every Canadian Dollar.
However, as the recent trend is now weaker than the long term trend, the exchange rates between the GBP and the CAD may be softening. Now may be a good time to buy Canadian Dollars, depending on the exchange rates that you can achieve, but this weakening trend may indicate that exchange rates are starting to fall.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/CAD exchange rates
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.