The British pound looks set to stay on the back foot against the Canadian dollar in the coming week, with losses likely to extend if oil climbs further on Hormuz tensions.
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The British pound's recovery against the Canadian dollar looks fragile, but softer oil could hand it momentum.
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The British pound looks set for further losses against the Canadian dollar in the near term, with losses potentially accelerating on any positive developments in the U.S.-Canada trade war.
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The pound has made lower highs against the Loonie since July, and Canada's trade war has not interrupted them. The Bank of Canada and Canadian jobs are in focus this week.
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One of Canada's most important banks has set out its playbook for the Canadian dollar under expected trade war scenarios.
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GBP/CAD looks set to break higher on news that arrived after the previous week's market closed.
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GBP/CAD has lost the 50-day average against a firming Canadian Dollar, with tariffs and inflation stacking this week's calendar.
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