The Canadian Dollar is benefiting from a positive assessment from the Bank of Canada, and assuming data continues to be positive in the week ahead will probably have the upper hand over politically…
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The Canadian Dollar could be at risk of falling against the Pound Sterling over the near-term.
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The Pound to Canadian Dollar has declined steeply from highs of 1.78 in May to the current level in the 1.68s, however, now it has paused to consolidate before its next move.
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Despite making gains across the board, the British Pound has struggled against the Canadian Dollar which was boosted by a shift in tone at the Bank of Canada.
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The Pound to Canadian Dollar sold off steeply after an inconclusive election result weighed on the Pound.
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The Pound to Canadian Dollar fell over 2.3% overnight after the UK election returned a politically unstable hung parliament.
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The Canadian Dollar slipped in the wake of a dramatic slump in global oil prices.
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