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GBP/CAD jumps as oil tumbles
The GBP/CAD currency pair is one to watch over the next couple of days, for not only is it looking interesting from a technical point of view, but the fundamentals are in play too. As Canada is a major oil exporter, its currency is influenced heavily by the price of the black stuff. Crude oil has plunged sharply in recent days on renewed worries about the excessive supply of oil. A nuclear agreement with Iran and the P5+1 looks imminent which could allow Tehran to produce more oil. Already, the OPEC is pumping more oil than at any time in the last three years. If Iran’s oil sanctions were lifted, the global supply ... (full story)