The GBP/CAD pair features the British pound (GBP) as the base currency and the Canadian Dollar (CAD) as the quote currency. It's a minor currency pair as it doesn't feature the US dollar but does include the GBP, which is one of the major currencies.
GBP/CAD is a popular minor currency pair among traders.
The GBP is one of the most significant currencies in the world. It's the oldest currency in circulation and the fourth most traded globally, involved in 12.9% of all forex trades. It's also the fourth-largest reserve currency. The Canadian dollar isn't too far behind the British pound. It ranks as the sixth most popular reserve currency and has risen in popularity among traders since 2019 to be involved in 6.2% of all global trades. The CAD was first issued in 1858 and is nicknamed the Loonie thanks to the loon bird featuring on its $1 coin.
It's important traders are aware of the fundamental factors that affect the GBP and CAD forex rate. This will help with analysis before trading can begin.
The factors that impact the GBP include:
The factors that impact the CAD include:
Open an account with Tradu to discover the GBP to CAD exchange rate, live charts and key indicators. From there, you can form a strategy and start trading this minor currency pair.
Please note that when trading forex with Tradu there is no physical delivery of any currency.