Pound to Canadian Dollar Price Forecast: Oil Volatility Caps CAD

GBP/CAD traded sideways at 1.8455 as mixed UK inflation data and volatile oil prices kept both currencies rangebound. Headline UK inflation rose to 3.3% in March while core inflation eased, limiting Sterling’s reaction and reinforcing expectations of a cautious Bank of England. The commodity-linked Canadian dollar was capped by swings in crude after a US‑Iran ceasefire and lingering supply-route uncertainty in the Strait of Hormuz. Near-term drivers for the pair include UK PMI data (which could weigh on sterling) and Canadian producer‑price and oil developments, which will shape Bank of Canada expectations and CAD moves.