New 6 months high for Sterling-Canadian dollar at 1.6167

Published: November 25 2022, 09:05 GMT+0

New 6 months high for Sterling-Canadian dollar at 1.6167

While yesterday ended at 1.615, today, GBP/CAD rallied above 1.6167 for the first time in 6 months and gained 7 pips — now trading at 1.6157.

Meanwhile, United Kingdom CBI Industrial Trends Orders (Nov) came out at -5, while a consensus of analysts was expecting -8.

A look at other currencies also shows bullish price action as having closed the previous session at 144.25, EUR/JPY is up 0.34% today to currently trade at around 144.75. EUR/NZD is up 0.42%.

While Sterling-Canadian dollar is up today, these currencies are lagging behind: after ending yesterday's session at 1.3755, USD/SGD lost 30 pips and is trading around 1.3724.

Also worthy of note, United Kingdom CFTC GBP speculative net positions scheduled to come out today at 19:30 UTC.

After setting a supportive marker at 1.4665 around a month ago, Sterling-Canadian dollar is now trading 10.13% above this level.

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