Momentum remains firmly in favour of further GBP/CAD strength, but the odds of a correction from overbought conditions are increasing.
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The Bank of Canada will deliver a succession of rate cuts in the coming months, weighing on the Canadian Dollar, say analysts.
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The Canadian Dollar fell across the board after the Bank of Canada cut interest rates and Governor Macklem said it was reasonable to expect further cuts if inflation continues to fall.
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Currency strategists at Bank of America say they prefer to be 'short' the Canadian Dollar heading into the Bank of Canada decision.
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GBP/CAD has had a strong run of late, but last week we saw some selling pressure mount amidst a correction from overbought conditions.
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The Canadian Dollar has endured a widespread selloff against many of its G10 peers in recent days amidst heightened expectations that the Bank of Canada will cut interest rates next month, but sell…
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An under-pressure Canadian Dollar could recover if market expectations for a June interest rate cut at the Bank of Canada fade in favour of the first cut falling in July.
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