Canadian Dollar: Inflation Surprise
- Category: CAD
The Canadian Dollar jumped after Canadian inflation unexpectedly rose in May and prompted investors to question whether the Bank of Canada could cut interest rates any further.
The Pound has registered two consecutive weekly declines against the Canadian Dollar and could see further weakness in the coming days and weeks.
The Pound is tipped to retreat from near multi-year highs against the Canadian Dollar by analysts at Macro Hive, who think the UK currency is expensive relative to fundamentals.