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The Pound-to-Canadian Dollar exchange rate appeared to find increasing support near to multi-month highs on Wednesday after Statistics Canada data suggested inflation may be better contained than was previously thought and asked awkward questions of assumptions about the Bank of Canada (BoC) interest rate outlook.
July 28,2021
The Pound-to-Canadian Dollar rate saw a strong start to the week but could struggle to sustain its upward momentum beyond Tuesday's 1.7350 level, and may even be susceptible to a corrective setback that sees it slip back below 1.73 over the coming days.
July 27,2021
The Pound-to-Canadian Dollar rate was slipping back toward an important level of technical support ahead of the weekend and potentially facing a period of consolidation as the Loonie continued to stabilise and Sterling was dampened by uninspiring UK economic data.
July 23,2021
The Pound-to-Canadian Dollar rate entered the new week with Sterling and the Loonie still vying with each other over the top spot among major currencies for 2021 but could potentially reach its highest since late April over the coming days if USD/CAD continues its correction higher.
July 19,2021
The Pound-to-Canadian Dollar exchange rate was trading near its highest since April following a flurry of demand for Sterling, while BMO Capital Markets has suggested that levels around 1.73 should now be viewed as short-term buying opportunities.
July 16,2021
The Pound-to-Canadian Dollar rate recovery appeared to gain traction in the mid-week session after the Bank of Canada tapered its quantitative easing programme (QE) but left disappointed those investors who’d hoped it would adapt its guidance on interest rates in a more ‘hawkish’ way.
July 15,2021
The looming key risk for the Canadian Dollar will be the midweek Bank of Canada policy decision where it is expected another cut to the quantitative easing programme will be announced.
July 13,2021
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