The Pound to Canadian Dollar exchange rate headed for its June lows early in the new week where it would be retesting the technical support underpinning the recovery from last year's historic trough but whether the 1.6673 holds up through the week ahead hinges as much on the Loonie as it does the underperforming Pound.
June 26,2023
The Canadian dollar can continue its recovery against the Pound and U.S. Dollar according to new research from global investment bank Commerzbank, which also shows a more determined advance against the Euro for 2024.
June 23,2023
The Canadian Dollar was mostly stronger in a resilient showing from the Loonie heading into the latter half of the week while Sterling was weaker in many parts ahead of a widely anticipated Bank of England (BoE) interest rate decision with the result being modest losses for GBP/CAD and uncertainty about the outlook.
June 22,2023
The Pound to Canadian Dollar exchange rate receded further from June highs to open the new week and potentially needs a big Bank of England (BoE) Bank Rate surprise on Thursday if it's to avoid falling back toward earlier lows around 1.6648 up ahead.
June 19,2023
The Canadian Dollar is one of the better-performing of the major currencies of the past six weeks, but economists at a global investment bank say the currency will likely struggle over the remainder of 2023.
June 15,2023
The Pound to Canadian Dollar exchange rate has rebounded from early June lows in recent trade though remains within the 1.66 to 1.6950 range prevailing over the last six weeks while economic data from the UK and Canada have offered little impetus for a breakout in either direction.
June 14,2023
The Canadian Dollar fell widely ahead of the weekend after Statistics Canada disclosed the first outright fall in local employment levels since the last 'lockdown' and what might be a sign of the Loonie's labour market faltering following aggressive increases in the Bank of Canada (BoC) cash rate over the last year.
June 9,2023
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