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May 13, 2023A quick look at yesterday: GBP/CAD closed at 1.6875 yesterday after ranging between 1.6854 and 1.6919.
Sterling-Canadian dollar upside coincides with further encouraging market factors as United Kingdom GDP fell short of the 0.1% projections, with new data of -0.3%. Fresh GDP data released in United Kingdom matched analyst forecasts with a reading of 0.2% — a backwards step from its previous reading of 0.6%.
Nevertheless, United Kingdom Manufacturing Production came out at 0.7%, better than analyst estimates of -0.1% and improving upon the previous reading of 0.1%.
Other currencies are also rising as GBP/NZD skyrockets 1.29% yesterday and closed at 1.9853. EUR/NZD went up by 1.18% yesterday, and closed at 1.7527.
At the same time, NZD/USD is down to 0.6193, losing 106 pips, after ending the previous session around 0.63.
Having set a peak of 1.7121 around 10 days ago, Sterling-Canadian dollar is now trading 1.45% below this level.
