The GBP/CAD currency pair, which expresses the value of the British pound sterling in terms of the Canadian dollar, is currently trading in a relatively tight range in spite of the fact that both currencies are (at least more broadly) liable to trade with greater-than-average volatility.
(Chart created by the author using TradingView. The same applies to all subsequent candlestick charts presented hereafter.)
Indeed, the fact that both currencies (GBP and CAD) are considered riskier at present is perhaps an enabler of reduced volatility, it effectively makes GBP/CAD a "risk-neutral" pair.
GBP