Forex
Oil Prices Soar Above $100 as Pound Struggles
The Pound to Canadian Dollar exchange rate remained subdued on Wednesday as global oil prices surged above $100 per barrel for the first time since July.
The rise in crude prices boosted the Canadian dollar, with Brent crude pushing past its highest level in over six months.
The 'Loonie' gained around 0.14% against the euro and 0.08% against the US dollar, but the Pound to Canadian Dollar exchange rate stayed relatively stable at CA$1.8658.
The upside potential of the Canadian dollar was limited due to ongoing concerns about Canada's trade war with the US and its impact on the economy.