Wave Trader

CADJPY can drag more lower

The reason why GBP is dropping today is that UK GDP has dropped into Negative Territory and UK 2 year gild has dropped from 5.60% to 4.36%. Bond market is sharply pricing in for more than 100 basis point rates cut in 2024 from BOE. Check the charts

If you look at these two images you will understand that which currency was strong against the USD and weaker now against the USD

Its the NZDUSD which is cating up the others USD pairs. https://www.tradingview.com/x/KfdIr2ur/

NZDUSD

AUDUSD