The Pound-to-Canadian Dollar has been trading in a sideways range for over a week but now looks increasingly like it might break out higher.
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July's GDP number vindicates Bank of Canada policymakers for having begun to warn markets about expectations over future rates.
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Strategists see GBP/CAD stumbling over the coming months while forecasts for year-end suggest the Pound could finish up as low as 1.6200, or as high as 1.7000.
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Both Canadian and New Zealand central banks threw curveballs at their currencies over Wednesday and Thursday leading to a shakeup of market expectations for monetary policy
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Stephen Poloz should reiterate earlier concerns on recent Canadian Dollar gains but the overall tone of his speech Wednesday should be broadly hawkish.
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Strategists are looking again at market assumptions for Canadian rates and eying Bank of Canada governor Stephen Poloz's speech on Wednesday with cautioun.
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The Pound-to-Canadian Dollar is in a short-term uptrend, which despite signs weakness and reversal is still technically intact and thus on balance still likely to extend, nevertheless, we also acce…
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