The Pound is prone to further short-term weakness against the Canadian Dollar in the near term.
"The Canadian dollar is acting like a petrocurrency once again, but we don’t think this will last," says Karl Schamotta, Chief Market Strategist at Corpay.
The Canadian Dollar could strengthen if the conflict in the Middle East intensifies.
The Pound continues its march higher against the Canadian Dollar and our Week Ahead Forecast model won't fight the trend.
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