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The Pound-to-Canadian Dollar rate retreated from its highest levels since 2018 Tuesday amid a rebound in oil prices although the coronavirus threat to the global economy and prospect of a months-long oil price war between Saudi Arabia and Russia could help the exchange rate retain an upside bias in the weeks ahead.
March 10,2020
The Pound-to-Canadian Dollar exchange rate leapt 1.8% in Monday trade as a meltdown in global stocks and oil prices left the Canadian Dollar as one of the FX market's major losers.
March 9,2020
The Pound-to-Canadian Dollar rate has entered overbought territory on the charts and may now be vulnerable to a correction lower after posting its largest weekly gain since September last year,
March 8,2020
The Canadian Dollar appeared to be unravelling Thursday as it extended an earlier retreat from the U.S. Dollar and Pound after Governor Stephen Poloz said the Bank of Canada (BoC) will cut interest rates again if needed, a day after describing coronavirus a āmaterial negative shockā to the economic outlook.
March 6,2020
The Canadian Dollar was quick to recover on Wednesday from a Bank of Canada (BoC) decision to take an axe to its cash rate and leave the door ajar for further easing, as the economy faces a "material negative shock" at the hands of coronavirus, although the Loonie is not out of the woods of yet
March 4,2020
The Bank of Canada is widely expected to cut interest rates on March 04 in sympathy with an apparently coordinated central bank action to inject capital and confidence into the global financial markets, amidst fears of a global economic slowdown owing to the coronavirus outbreak.
March 3,2020
The Pound-to-Canadian Dollar rate rose last week as the oil sensitive Loonie was punished more in a global risk sell-off than Sterling, helping to keep the technical uptrend alive on the charts although the first signs of a coronavirus outbreak in the UK could mean support for the British currency is tested over the coming days.
March 1,2020
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