The British Pound cancelled its lows last week, after several poor performances. The currency was aided by hopes of a Brexit deal being reached throughout this month, encouraging traders to buy in quarter-end trade. 

The Pound to Canadian Dollar exchange rate has only seen narrow movement this week, with traders keeping an eye on other currencies due to any developments related to the coronavirus. 

The Canadian Dollar pushed the GBP/CAD pair back slightly following the release of strong U.S. Non-Farm Payroll data.

Investors are now keeping an eye on the UK’s summer statement, set to be published tomorrow as well as on Canada’s June job market data, which will be out on Friday. 

Developments of the coronavirus, Brexit and oil price shifts will all impact the GBP/CAD pair.

Brexit talks are also weighing on the Pound to New Zealand Dollar exchange rate, which was pushed higher on Tuesday morning. This will be offset if positive news about the coronavirus continue to be seen, boosting the risk-sensitive Kiwi.

On the other hand, GBP/AUD dropped in value yesterday but regained losses today. The Australian Dollar weakened following this morning’s Reserve Bank of Australia policy decision. 

In its statement, RBA Governor Philip Lowe explained, “Uncertainty about the health situation and the future strength of the economy is making many households and businesses cautious, and this is affecting consumption and investment plans.”