GBPCAD's GAINS could continue
With the concentration on British data this week, especially the Bank of England's statement and press conference plus inflation, pound-loonie is in focus for a possible move up to resistance around $1.71. The relationship between yields of British and Canadian bonds is a driving factor as is the expected further hawkishness of the BoE amid persistently high inflation in the UK. Apart from this week's British data which are likely to drive volatility for most pairs with the pound, traders are also looking ahead to Canadian inflation on Tuesday 27 June. Exness' weekly market outlook is a possible idea for a trade, not a signal or a guarantee of success. Always do your own research and manage risk.
Read EXNESS Broker Review June 22, 2023 at 05:27PM Exness
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