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British Pound / Canadian Dollar (GBP/CAD)

Monitor the British Pound (GBP) against the Canadian Dollar (CAD). Get real-time forex data and insights for effective trading at FP Markets Portugal.
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British Pound / Canadian Dollar (GBP/CAD) Profile

The first appearance of the pound coin was in 1489, under the reign of Henry VII. A year after the Bank of England was established, in 1694, pound notes were first issued for circulation in the United Kingdom. As a result, and because the notes were originally written by hand... Instead, the United Kingdom has preserved the pound as its official currency.

It took the Canadian colonies a long time to get away from the British pound and start using currencies linked to the United States dollar instead. With the creation of the Canadian dollar in 1867, the country joined together. By the middle of the 20th century, the Bank of Canada was the only source of paper money, and banks stopped making banknotes. What do you need to know about trading?

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British Pound / Canadian Dollar (GBP/CAD) Trading FAQ

Therefore, when is the best moment to invest? When the European trade session begins, significant activity in GBP/CAD typically happens. Between 08:00 and 17:00 GMT, this is the time zone. However, the majority of UK economic data is released between 07:00 and 09:30 GMT, whereas the majority of US economic data is released between 13:30 and 15:00 GMT.

Factors that influence the GBP/CAD value? The interest rates set by the European Central Bank can have a profound impact on this currency pair.

CFDs (contracts for difference) are one of the most popular ways to trade currencies like GBP/AUD, as you may already know. Many Forex brokers are available on the market. See if you can locate one that meets your requirements. Like FP Markets, a regulated broker that provides a wide range of platforms and accounts to meet the needs of traders of all levels.

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