{"id":82395,"date":"2019-11-20T09:12:32","date_gmt":"2019-11-20T14:12:32","guid":{"rendered":"https:\/\/currencylive.com\/?p=82395"},"modified":"2019-11-20T09:12:32","modified_gmt":"2019-11-20T14:12:32","slug":"101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\/","title":{"rendered":"GBP\/CAD Updates 7-Month High Amid Sino-US Trade Tensions"},"content":{"rendered":"\n\n\n
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GBP\/CAD continues the bullish rally that started on November 7, updating the highest level since May of this year. Currently, one British pound buys 1.7179 Canadian dollars, up 0.22% as of 10:33 AM UTC.<\/span><\/p>\n

The Loonie is dragged down by the ongoing uncertainty around the trade relationship between the US-China. The world\u2019s two largest economies cannot reach consensus on the tariffs rollback and Hong Kong protests.<\/span><\/p>\n

US President Donald Trump reiterated his plans to raise new tariffs on Chinese goods is negotiations fail. Elsewhere, the US senate is thinking about supporting pro-democracy protesters in Hong Kong. China reacted by condemning the US legislation, citing interference in internal affairs. The senate\u2019s bill to back protesters might stagnate the progress towards the \u201cphase one\u201d trade deal.<\/span><\/p>\n

Besides this, the CAD has been under pressure after Bank of Canada\u2019s senior official Carolyn Wilkins gave a speech yesterday. She was hinting that the central bank was moving towards an interest rate cut. She said that Canada\u2019s financial system was in a good position to face any challenge caused by the global slowdown and ongoing Sino-US trade tensions. Although the BOC might still cut the rates at some point.<\/span><\/p>\n

In the UK, the pound is supported by the steady Brexit optimism. Yesterday, Prime Minister Boris Johnson, who represents the Conservative Party, had his first head-to-head debate with opposition leader Jeremy Corbyn, who rules the Labour Party. A YouGov opinion survey showed that Johnson had a modest win of 51%.<\/span><\/p>\n

YouGov <\/span>stated<\/span><\/a>:<\/span><\/p>\n

\u201c<\/span>With the Prime Minister clearly attempting to tie every part of the debate back to Brexit \u2014 even offering to leave a copy of his Brexit deal under Jeremy Corbyn\u2019s Christmas tree \u2014 he will be pleased to find he is seen as having performed better on the topic of Brexit.\u201d<\/span><\/i><\/p>\n

The debate is part of a campaign for the early election scheduled for December 12. The national poll will be held at the request of the PM himself. He believes the popular vote would allow his party to consolidate its position in the Parliament and handle the UK\u2019s withdrawal.<\/span><\/p>\n

Later today, the pair might become volatile as Canada will release a package of inflation data.\u00a0\u00a0<\/span><\/p>\n\n\n\n
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GBP\/CAD continues the bullish rally that started on November 7, updating the highest level since May of this year. Currently, one British pound buys 1.7179 Canadian dollars, up 0.22% as of 10:33 AM UTC. The Loonie is dragged down by the ongoing uncertainty around the trade relationship between the US-China. The world\u2019s two largest economies […]<\/p>\n","protected":false},"author":163946598,"featured_media":47281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1379],"tags":[1657,1680,1683,1870,1394],"class_list":{"0":"post-82395","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-gbp","9":"tag-british-pound","10":"tag-cad","11":"tag-canadian-dollar","12":"tag-exchange-rates","13":"tag-gbp"},"acf":[],"yoast_head":"\nGBP\/CAD Updates 7-Month High Amid Sino-US Trade Tensions - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/CAD Updates 7-Month High Amid Sino-US Trade Tensions\",\"datePublished\":\"2019-11-20T14:12:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/\"},\"wordCount\":616,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/canadian-dollars-in-hand.jpg\",\"keywords\":[\"british pound\",\"cad\",\"canadian dollar\",\"exchange rates\",\"gbp\"],\"articleSection\":[\"CAD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101547-gbp-cad-updates-7-month-high-amid-sino-us-trade-tensions\\\/\",\"name\":\"GBP\\\/CAD Updates 7-Month High Amid Sino-US Trade Tensions - 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