February 1, 2021 - Written by Tim Boyer
Optimism over Britain’s coronavirus vaccine outlook has helped the British Pound to Canadian Dollar (GBP/CAD) exchange rate to advance lately. While the pair was unable to hold last week’s best levels, it is once again edging higher this morning as investors continue to find the Pound appealing. However, the Pound may run out of steam soon unless there is an upside surprise in Britain’s outlook.
It’s been a busy couple of weeks for GBP/CAD, as the pair touched on impressive highs last week. GBP/CAD opened last week at the level of 1.7430 and spent the second half of the week surging higher.