The GBP CAD exchange rate currently trades at approximately CA$1.8372, down 0.5% from the opening rate on Wednesday. The Pound GBP started the day under pressure against its major trading partners, leading to a decline in the exchange rate.

The recent forecasts indicating a halving in growth for the UK economy have raised alarm among investors and traders, contributing to a negative sentiment for the Pound. Analysts suggest that further declines may occur if economic reports continue to disappoint.