Pound Canadian Dollar (GBP/CAD) Exchange Rate Dips as Oil Prices Bolster Oil-Sensitive 'Loonie'
May 17, 2021 - Written by John Cameron GBP/CAD Exchange Rate Dips as Rising Oil Prices Boost Canadian Dollar The Pound Canadian Dollar exchange rate dipped today as the ‘Loonie’ has continued to benefit from upbeat Canadian economic data. A mixture of rising oil prices and rising Canadian wholesale sales for March has provided a boost for the Canadian Dollar. The pairing is currently trading around CA$1.70. The Canadian Dollar has remained strong this week after Canada’s wholesale transactions beat forecasts and rose by 2.8% in March. CIBC’s senior analyst, Royce Mendes, commented on ...
Source: currencynews.co.uk