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GBP vs CAD currency overview for 18th August 2017
The Pound to Canadian Dollar exchange rate has tumbled all week so far as demand for risky currencies rises.
Prices of oil, Canada’s most lucrative commodity, have also been strong this week. US oil inventories have dropped, bolstering hopes that the oil supply glut can be tackled.
GBP/CAD now trends near its worst 2017 levels, and is unlikely to recover unless tomorrow’s Canadian inflation report is highly disappointing.
This update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/CAD exchange rates
GBP/CAD performance, 18th August 2017
This chart shows how the GBP is performing againt the Canadian Dollar throughout the day.
The red line shows the opening exchange rate at the start of the day so that you can see if the current exchange rate is above, or below, yesterdays’ rate.
The GBP/CAD exchange rate (1.6194) is lower than todays opening rate, so the Pound is weaker against the Canadian Dollar compared to yesterday.
The long term chart at the top of this page shows how the GBP/CAD exchange rate has performed over the last few months.
GBP/CAD is scoring 67 (out of 100) on our trend strength indicator, which indicates that this currency pair is likely to be establishing a strong upwards trend.
Todays GBP/CAD exchange rate summary
Highest exchange rate today: 1.6338
Lowest exchange rate today: 1.6132
Opening exchange rate today: 1.631
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.