GBP/CAD drops from 1.6821 to 1.6725, losing 96 pips (0.57%) today.
Sterling-Canadian dollar is currently trading at 1.6725 following the release of BoE Interest Rate Decision (Dec) data from the United Kingdom.
While price action maintains a negative bias, United Kingdom BoE Interest Rate Decision (Dec) released today at 12:00 UTC with a figure of 3.5, while the previous figure was three. United Kingdom Consumer Price Index came out at 10.7%, while a consensus of analysts was expecting 10.9%. Canada Housing Starts (Nov) released today at 13:15 UTC with a figure of 264,200, while the previous figure was 264,600.
In the meantime, negative performances are seen in other pairs, AUD/USD is trading around 0.6727 (down 138 pips).
Though Sterling-Canadian dollar has been dropping, other pairs have been performing better: USD/SGD added 0.94% to its value, now trading at 1.3578. EUR/AUD is up 2%.
Moreover, as things stand, upcoming United Kingdom Retail Sales data is projected to fall short of market expectations with newly published data of 0.3%, following on from the preceding figure of 0.6%. New data is set to be published tomorrow at 07:00 UTC.
Furthermore, United Kingdom Services PMI is expected tomorrow at 09:30 UTC. United Kingdom Manufacturing PMI is expected tomorrow at 09:30 UTC.
The currency pair has been trending positively for about a month. As things stand, Sterling-Canadian dollar is 14.7% away from a significant low of 1.4665 first set 2 months ago.