A stronger than previously expected rate of growth in Canada could mean the BoC brings forward its next hike, leaving GBP/CAD facing further losses.
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The Canadian Dollar vaulted higher on Thursday after the release of second quarter GDP data confirmed the economy's strong upward trajectory.
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The Pound to Canadian Dollar had been falling reasonably predictably up until it based and reversed on August 24; since then it has bounced strongly higher.
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A widening gap between real interest rates, firmer crude oil prices and an uncertain outlook for the U.K. economy could mean GBP/CAD has further to fall and that shorting it is a good idea for trad…
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The Pound is expected to lose ground against the Canadian Dollar with the result that GBP/CAD will continue falling, due to the diverging policy paths of the two respective central banks.
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The Loonie's strength could see the BoC becoming Fed-dependent and give sterling some breathing space after a crushing three-months.
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