The Canadian Dollar has fallen across the board after the Bank of Canada cut interest rates for the second time in as many months.

The Pound to Canadian Dollar exchange rate is close to three-and-a-half-year highs as the Bank of Canada looks to cut interest rates again this week.

The Canadian Dollar is one of the better-performing G10 currencies following the release of Canadian inflation figures, which question the appropriateness of another Bank of Canada interest rate cut as soon as the July meeting.

GBP/CAD has rallied to a new three-and-a-half-year high at 1.7720, but the odds of a pullback in the coming days are high with inflation figures due either side of the Atlantic.