Monday saw sterling strengthen over 0.8% against the Canadian dollar. This was somewhat surprising, as last Friday Canada released manufacturing sales that were 1.7% above the expectation of 2.9%. This weakening of the dollar may well be due to the markets predicting that negative policies will be introduced in the Governor of the Bank of Canada’s speech tomorrow, or could simply be because today was a bank holiday in Canada – which naturally causes an outflow of funds.
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