Elsewhere yesterday it was a relatively quiet day in the markets, with many currencies trading in a narrow window but losing out to a strong sterling. The main data release of note came out of Canada, where figures showed the economy had expanded for a second month in a row, logging gains of 0.2%. The Canadian economy has had a number of strong data releases since the start of the year, with yesterday’s results being driven by oil producers, as well as copper and nickel miners. The figures bolstered an already relatively strong Canadian dollar; however, as these figures were widely forecasted, much of the impact had already been priced into the market. Early this morning we had monthly manufacturing figures out of China which narrowly missed forecast.
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