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The Pound-to-Canadian Dollar rate has struggled for momentum thus far in the new week but technical analysis from Scotiabank has flagged upside risks for both GBP/CAD and USD/CAD, while new forecasts from BofA Global Research suggest the Loonie’s nascent comeback could be short-lived.
August 11,2021
The Pound-to-Canadian Dollar rate entered the new week above 1.74 and with support at nearby levels but Sterling could struggle for momentum before Thursday’s GDP report reveals the extent to which the UK’s recovery met bullish market expectations last quarter.
August 9,2021
The Canadian Dollar is just about holding onto its status as the best performing major currency of 2021 with some slippage following a below-consensus employment report.
August 6,2021
The Pound-to-Canadian Dollar rate was buoyant near 1.74 in the penultimate session of the week and might now find itself better supported in the months ahead after the Bank of England (BoE) has unambiguously signalled that it could lift interest rates before the Bank of Canada (BoC).
August 5,2021
The Pound-to-Canadian Dollar exchange rate was closing in on multi-month highs when testing 1.75 during the mid-week session, amid price action that is cultivating an increasingly bullish trend on the charts, although GBP/CAD faces setback risks from both Sterling and the Loonie ahead of the weekend.
August 4,2021
The Pound-to-Canadian Dollar exchange rate has struggled to sustain momentum above 1.7350 but remains on its front foot and could be set to reclaim the top spot among G10 major currencies for 2021 this week with another attempt at recovering above the year’s breakeven level of 1.7380.
August 2,2021
Economists at one of the largest lenders and financial services provider in North America have updated their forecasts for the Canadian Dollar, finding that the currency will gain over the Dollar but will likely be locked around the 1.70-1.72 range against the Pound for the foreseeable future.
July 30,2021
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