New 6 months high for Sterling-Canadian dollar at 1.617

Published: November 25 2022, 10:45 GMT+0

New 6 months high for Sterling-Canadian dollar at 1.617

While yesterday ended at 1.615, today, GBP/CAD rallied above 1.617 for the first time in 6 months and gained 11 pips — now trading at 1.6162.

At the same time, 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 EUR/JPY is up 0.57% to 145.07. USD/JPY gained 0.5% and is currently trading at 139.28. GBP/JPY rises 0.49% to trade around 168.72.

Furthermore, the market is looking at United Kingdom CFTC GBP speculative net positions is scheduled for today at 19:30 UTC.

Having set a significant low of 1.4665 a month ago, Sterling-Canadian dollar is trading 10.13% higher.

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