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Author Topic: GBP/CAD Gains Likely if Canadian Employment Disappoints  (Read 92 times)

Josesv

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GBP/CAD Gains Likely if Canadian Employment Disappoints
« on: June 21, 2018, 10:31:27 am »

While Sterling (GBP) was pressured for most of Thursday’s European session by Brexit jitters, the Pound to Canadian Dollar (GBP/CAD) exchange rate hit a new weekly high in the afternoon.
 
GBP/CAD touched on a high of 1.7466 towards the end of the day, in reaction to comments from Bank of England (BoE) Deputy Governor Dave Ramsden.

Ramsden hinted that the BoE could hike UK interest rates in August 2018. He signalled that the bank was confident that the UK economy was recovering from the weak performance seen in Q1.
While Canadian data has been solid this week and Bank of Canada (BoC) interest rate hike bets have been climbing, the uk to canada exchange rate has advanced due to market concerns about the future of NAFTA.

The North American Free Trade Agreement (NAFTA) has been undergoing renegotiation this year and has been a major cause of concern for Canadian Dollar (CAD) investors.

The Canadian Dollar briefly pushed GBP/CAD from 1.7284 to 1.7205 at the beginning of the week, but the pair has since advanced. By Thursday morning, GBP/CAD was
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