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April 29, 2023GBP/CAD rallied to 1.7066, hitting its highest point in 1 year; it later lost 42 pips and closed at 1.7023.
On the flip side, highly important GDP data from Canada beat analyst expectations of 0.2% with a reading of 0.1%.
At the same time, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 5,800, while the previous figure was 1,300.
Elsewhere, other currency pairs are also gaining ground as GBP/JPY skyrockets 2.39% yesterday and closed at 167.15. USD/JPY added 1.8% and closed around 133.89 yesterday. EUR/JPY went up by 1.73% yesterday, and closed at 150.14.
After setting a supportive marker at 1.4665 around 7 months ago, Sterling-Canadian dollar is now trading 15.78% above this level.
