Optimism that the North American Free Trade Agreement (NAFTA) could be successfully renegotiated helped the Canadian Dollar to advance overnight and this pushed the Pound to Canadian Dollar exchange rate to its lowest levels in half a month.
However, Wednesday morning’s news that China had retaliated with more tariffs on US goods spooked investors and weakened the Canadian Dollar. GBP/CAD was advancing at the time of writing.
Canadian Dollar investors are anticipating domestic trade stats tomorrow and job market data on Friday, but developments on US trade stances are also likely to influence the Canadian Dollar.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/CAD exchange rates
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