Lethargic Sterling-Canadian dollar fails to breach tight 1.6787 – 1.687 range

Yesterday at a glance: after finishing Thursday at 1.68, GBP/CAD went up to 1.687 before paring its losses and closing at 1.6814.

On the flip side, data for United Kingdom Retail Sales published yesterday at 06:00 UTC came out at 0.5%, beating projections of 0.4% and showing improvement over the preceding figure of -1.2%.

At the same time, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 11,600, while the previous figure was 12,600. Fresh Wholesale Sales (MoM) data from Canada came out at 1.6.

Other currencies are also rising as GBP/NZD surges 0.52% yesterday and closed at 2.0311. Notably, GBP/JPY rose 0.64% yesterday and closed at 172.53. EUR/JPY added 0.43% and closed around 150.22 yesterday.

As things stand, Sterling-Canadian dollar is 1.87% away from a significant high of 1.7121, first set 24 days ago.