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

Published: May 27 2023, 00:00 GMT+0

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

A quick look at yesterday: after finishing Thursday at 1.68, GBP/CAD went up to 1.687 before paring its losses and closing at 1.6814.

Nevertheless, United Kingdom Retail Sales beat the 0.4% projections, with 0.5%.

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. Canada Wholesale Sales (MoM) came out at 1.6.

Other currencies are also rising as GBP/NZD went up by 0.52% yesterday, and closed at 2.0417. GBP/JPY added 0.64% and closed around 172.53 yesterday. USD/JPY is trading around 140.62 after ending yesterday's session at 140.05 (up 0.41% today).

Having set a peak of 1.7121 around 24 days ago, Sterling-Canadian dollar is now trading 1.87% below this level.

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