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How to Trade GBPCAD - Meaning, Interpreting, News

The GBP to CAD is a combination of the pound sterling, which is considered the most expensive currency in the world, and the Canadian dollar, the eighth most popular among traders. The pound against the Canadian dollar today is the fourth of the six most traded currency pairs in the Forex market.

 

GBPCAD
1.70497

Previous Close: 1.70497

Open: 1.70365

High: 1.70875

Low: 1.7024

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What is the exchange rate from pounds to Canadian dollars

The high volatility of the British pound to the Canadian dollar compared to any other pair makes it attractive for traders who want to make good profits in the pound to CAD dollar exchange rate.

In the GBP to CAD currency pair, the British pound is the base currency and the Canadian dollar is the quote currency. This GBP to Canadian dollars pair is a cross rate, although there is no US dollar in the pair, all calculations are made through it. When buying the UK pound to the Canadian dollar, the Canadian dollar is exchanged for dollars and dollars for the pound.

The GBP into CAD quote has 4 decimal places. Some forex brokers that offer sterling to Canadian dollars add a fifth digit for the convenience of traders with small trading volumes.

A quote (for example 1.74177) means that 1 pound to Canadian dollar will be worth 1.74177.

Pound to Canadian dollar today

Both experienced traders and beginners highly appreciate this Canadian dollar to GBP pound pair.

When actively analyzing the pound to Canadian dollar best rate, the first thing that catches the eye is the correlation with EUR/USD. However, the current economic situation is developing in such a way that in the future the euro will have less and less influence on the British pound to CAD. The reason for this is the alienation of economic and financial interaction, which sooner or later will manifest itself after the UK leaves the eurozone.

Do you need a high-quality pound sterling to CAD forecast and no less reliable market analysis? This means that you cannot do without the factual data that we provide you here on AtoZMarkets. We publish not only GBP CAD analysis but also the GBP CAD chart. On the GBP to CAD graph, you can track not only the dynamics of the fx GBP to CAD since the beginning of the trading day but also the maximum and minimum of the GBP to CAD live rate that were reached at a certain time.

The Forex market is available 24 hours a day, but, in particular, trading the GBP CAD trend in the UK is activated at 8:00 in the morning and decreases from 17:00. Of course, during the day, there will be periods when this UK pound to Canadian dollar live pair will have higher volumes in the GBP CAD live chart, usually around significant market announcements.

GBP CAD news

The Canadian dollar as often reported in GBP forex news is the so-called commodity currency because the Canadian economy has an export orientation. The country’s economy depends on the export of oil, timber, coal, ferrous and non-ferrous metals. If prices for this commodity fall, then the value of the dollar also decreases, and, consequently, the sterling to Canadian dollars rate grows. And accordingly, on the contrary – prices rise, the sterling into Canadian dollars falls.

The most important economic and political GBP CAD news affects in this way: if these indicators improve in Britain, then the quotes of the GBP v CAD pair are growing; if this improvement occurs in Canada, then, accordingly, there is a fall – GBD into CAD.