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February 25, 2023
Yesterday at a glance: down on the day: GBP/CAD closed at 1.6247 after ranging between 1.6246 and 1.6246.
While price action maintains a negative bias, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of -18,300, while the previous figure was -23,900. Canada Wholesale Sales (MoM) came out at three. Fresh Manufacturing Sales (MoM) data from Canada came out at 3.9.
Sterling-Canadian dollar's value drop coincided with the fact that after ending yesterday's session at 0.681, AUD/USD lost 83 pips and is trading around 0.6726.
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: USD/JPY added 1.37% and closed around 134.65 yesterday. USD/SGD added 0.63% and closed around 1.3421 yesterday.
Sterling-Canadian dollar is now trading 11% away from its significant low of 1.4665 first tested 4 months ago.
