GBP/CAD

GBP/CAD is the forex ticker for the exchange rate between the British pound and Canadian dollar – the fourth and sixth most traded currencies in the world. It tells traders how many Canadian dollars are needed to buy a single unit of GBP.

The Canadian dollar is considered a commodity currency, due to the country’s position as an energy exporter, which means the price of GBP/CAD is heavily influenced by oil prices. When the demand for oil rises, it creates greater demand for the Canadian dollar – pushing the price of GBP/CAD down.