Forex
GBP/CAD Exchange Rate Hits Nine-Day High Amid Upbeat UK Data
The Pound to Canadian Dollar (GBP/CAD) exchange rate has reached a nine-day high of CA$1.8764, up over 0.3% on the week.
This comes after the UK's GDP figures showed the economy expanded by 0.3% in July, beating forecasts and providing a boost to GBP.
The Canadian Dollar (CAD) had a strong start to the week due to escalating tensions in the Middle East, which saw oil prices surge.
However, CAD relinquished some gains later in the week as the US-Canada trade war intensified, with Canada's tariffs taking effect on Tuesday and US President Donald Trump retaliating by banning some Canadian goods.