We are now seeing the best conversion rate on the British pound sterling (GBP) to Canadian Dollar currency pairing since the start of April.

The rate has been unable to break 1.86, indeed recently there was the threat of a deeper pullback towards the 1.80 level.

However, April has seen a steady rise in the rate and we are now currently seeing some of the best levels for a while. Wednesday's policy outcome at the Bank of Canada has been particularly bearish for the CAD.

However, be warned, it will take a fundamental shift in global investor appetite to draw the GBP-CAD north of the 1.86 level and at Pound Sterling Live we are sceptical that this could occur anytime soon.