Great Britain Pound vs Canadian Dollar •GBPCAD•

About

GBPCAD

The British pound/Canadian Dollar (GBP/CAD) cross currency pair is one of the most actively traded pairs in the world. The pair is a proxy for whatever dynamics are happening in EUR/USD and GBPUSD considering the Canadian dollar is closely linked to the United States. Britain's pound is the 4th most traded currency in the forex exchange market and is regarded as one of the world's key reserve currencies. The Canadian dollar being a commodity currency is heavily reliant on commodity prices notably oil, so any time oil prices go up, the GBP/CAD pair drops as CAD gains ground, and when the oil becomes cheaper, GBP/CAD has an uptrend, as the CAD loses its support.

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