GBP/CAD Making New Lows

The Sterling is having a rather bad week as the single UK currency is taking a beating by its counterparts. While a cheap currency might favor export costs, weakness in a currency is a sign of weakness in the economy.

So far, the Brexit hasn't been panning out nicely for the UK but this might change as new opportunities arise.

GBP/CAD is close to its lowest low which came as a post Brexit sell off result. The pair is now hovering around 1.6800 as the lowest low is waiting at 1.5767. If the UK economy continues to release weak data we could see the low levels again before year end.

Chart: GBP/CAD D1