GBP/CAD remains near CA$1.8875 amid mixed Bank of England signals and rising oil prices.

Key points

• The GBP/CAD exchange rate has been trading around CA$1.8875, influenced by conflicting signals from the Bank of England (BoE) and fluctuations in oil prices.
• The BoE's mixed signals have kept the British pound volatile, with some policymakers hinting at potential rate hikes, while others express caution.
• The Canadian dollar has found support from rising oil prices, which have rebounded after initial declines due to geopolitical tensions.
• Upcoming speeches from BoE policymakers and developments in the oil market are expected to influence the GBP/CAD exchange rate in the near term.