New 6 months high for Sterling-Canadian dollar at 1.6174

Published: November 25 2022, 14:25 GMT+0

New 6 months high for Sterling-Canadian dollar at 1.6174

While yesterday ended at 1.615, today, GBP/CAD rallied above 1.6174 for the first time in 6 months and gained 15 pips — now trading at 1.6166.

Meanwhile, United Kingdom CBI Industrial Trends Orders (Nov) released yesterday at 11:00 UTC with a figure of -5, while the previous figure was -4.

A look at other currencies also shows bullish price action as USD/CHF jumps 0.7% to trade around 0.9496. Having closed the previous session at 138.59, USD/JPY is up 0.61% today to currently trade at around 139.44.

While Sterling-Canadian dollar is up today, these currencies are lagging behind: EUR/USD draws back 0.49% to trade around 1.0362.

Furthermore, the market is looking at United Kingdom CFTC GBP speculative net positions scheduled to come out 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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