23 Jan 2014
GBP/CAD soars above 1.8000 to 4 ½-year highs
FXstreet.com (Córdoba) - The GBP/CAD rose more than 300 pips on Wednesday, reaching levels not seen since July 2009. The pair managed to consolidate above 1.8000 on Tuesday, jumped on Wednesday and so far on Thursday is extending gains. Recently reached a fresh high at 1.8461 after Chinese economic data.
While the Loonie was the worst performer on Wednesday, weakened by the statement that followed the monetary policy decision of the Bank of Canada and the press conference, the Pound was on the other side, and emerged as the strongest currency after the UK employment report and following the release of the minutes of the Bank of England.
The different scenarios for the GBP and the CAD, sent the GBP/CAD sharply to the upside, in line with the main trend, that has been bullish since the first semester of 2013. Upside price movements accelerated in the beginning of 2014.
While the Loonie was the worst performer on Wednesday, weakened by the statement that followed the monetary policy decision of the Bank of Canada and the press conference, the Pound was on the other side, and emerged as the strongest currency after the UK employment report and following the release of the minutes of the Bank of England.
The different scenarios for the GBP and the CAD, sent the GBP/CAD sharply to the upside, in line with the main trend, that has been bullish since the first semester of 2013. Upside price movements accelerated in the beginning of 2014.