CAD – The Canadian dollar weakened to its lowest level in 18 months against counterpart on Tuesday as oil prices continued their decline, with WTI slipping below $100.00 per barrel.
GBP – The British pound edged lower on Tuesday, heading back towards its lowest level in nearly two years on signs that a weakening economy will force the Bank of England to slow its interest rate hiking cycle.
Indeed, commenting on GBP’s outlook, Caxton argues that “it’s pretty tough to be bullish sterling in the current environment… if you’re asking for a perfect mix for a weaker currency, sterling is pretty much as close as you can get to at the moment.”
GBP – The British pound edged lower on Tuesday, heading back towards its lowest level in nearly two years on signs that a weakening economy will force the Bank of England to slow its interest rate hiking cycle.
Indeed, commenting on GBP’s outlook, Caxton argues that “it’s pretty tough to be bullish sterling in the current environment… if you’re asking for a perfect mix for a weaker currency, sterling is pretty much as close as you can get to at the moment.”