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Sterling/CAD Forecast

Written by:
Jimi Boake
Currency Broker
T: 01442 892 060

GBP/CAD weakened over the latter course of yesterday’s trading session, following a speech by MPC member Broadbent.

The markets had been anticipating news surrounding an interest hike but Broadbent declined to comment thus compounding sterling’s recent woes to bring the rates from 1.6650 to 1.6540 at the time of writing. The UK will release their latest average earnings index figures at 09:30 and there are 3 pieces of high impact data out of Canada today at 15:00 in the form on BOC monetary policy report followed by the BOC rate statement and finalised by the overnight rate. Any deviation from the forecast has the potential to cause volatility in the CAD and GBP crosses.

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To keep up to date with the Canadian dollar, visit our CAD blog section on our website here.

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Jimi Boake
Currency Broker
T: 01442 892 060

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