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April 28, 2023GBP/CAD rallied to 1.7066, hitting its highest point in 1 year. It later lost 30 pips and is now trading at 1.7036.
Canada's GDP new data released of 0.1% below its previous figure.
On the flip side, Canada GDP published today at 12:30 UTC came out at 0.1%, falling short of the 0.2% projections and continuing its decline from the previous 0.6% figure.
A look at other currencies also shows bullish price action as USD/JPY skyrockets 1.7% to trade around 136.16. Having closed the previous session at 167.15, GBP/JPY is up 1.78% today to currently trade at around 170.12. Having closed the previous session at 147.59, EUR/JPY is up 1.39% today to currently trade at around 149.64.
Furthermore, the market is looking at United Kingdom CFTC GBP speculative net positions is scheduled for today at 20:30 UTC.
After setting a supportive marker at 1.4665 around 7 months ago, Sterling-Canadian dollar is now trading 15.78% higher.
