GBP/CAD Falls as EU Brexit Extension Decision Looms

The Pound Canadian Dollar (GBP/CAD) exchange rate has fallen to around CA$1.6814 as investors await the European Union's decision on a Brexit extension.

The EU is expected to make its announcement on Friday, with leaders signaling a willingness to offer an extension but differing on the length of the delay.

French leader Emmanuel Macron has pushed for a 15-day extension past the original October 31 deadline, while German Chancellor Angela Merkel and Irish Taoiseach Leo Varadkar have argued for a January delay.

This uncertainty has weighed on the Pound, with Prime Minister Boris Johnson vowing to push for a general election if the extension is granted in January.