24 Feb 2015
GBP/CAD much lower on Poloz
FXStreet (Guatemala) - GBP/CAD is trading at 1.9357 with a high of 1.9558 and a low of 1.9350.
Poloz is speaking and CAD is strong on the back of the decision he made to cut rates giving the economy in Canada enough time to respond positively. The cross was doing well earlier but has come off over the course of the US session and now there seems that there is no hope for the bulls.
Analysts at TD Securities explained that they think the broader underpinnings of the GBP rally are solid; "This should mean that downside risks for the cross remain fairly limited for the moment. Look to fade weakness near-term. We think the overall trend remains constructive and we look for gains to extend to 2.02 in the weeks ahead." 1.9350 holds for now, for a drop of 1.9480.
Poloz is speaking and CAD is strong on the back of the decision he made to cut rates giving the economy in Canada enough time to respond positively. The cross was doing well earlier but has come off over the course of the US session and now there seems that there is no hope for the bulls.
Analysts at TD Securities explained that they think the broader underpinnings of the GBP rally are solid; "This should mean that downside risks for the cross remain fairly limited for the moment. Look to fade weakness near-term. We think the overall trend remains constructive and we look for gains to extend to 2.02 in the weeks ahead." 1.9350 holds for now, for a drop of 1.9480.