Bank of Canada interest rate decision this week (Tom Holian)

Pound Stronger vs Canadian Dollar this Morning

Sterling vs the Canadian Dollar has continued to trade above 1.90 on the Interbank level as Sterling during the last few trading sessions.

The Pound saw gains following some better than expected Retail Sales data showing an improvement to 4.3% from the expected 2.5%.

It suggests that the UK economy is actually evidencing some gains and with last week’s surprise opinion poll on the Brexit vote showing the Leave campaign in the lead this has helped to boost Sterling exchange rates.

However, Sterling has not been able to continue its gains against the Canadian Dollar after the Canadian central bank showed an improvement in inflation levels.

The Bank of Canada are due to meet on Wednesday to release their latest interest rate decision and the value of crude oil could have a deciding influence on the Loonie vs Sterling.

Oil prices have been slowly rising but with the Canadian oil fields being adversely affected by the recent wildfires in the Alberta area this has led to less production causing problems for the Canadian economy.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]