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The cost of buying foreign currency, be it Canadian Dollars, US Dollars or any other majorly traded currency, has increased so far during this morning’s trading. GBPCAD exchange rates have fallen by over 0.5% during the opening hours of trading.

Focus may also be on data releases due out from the US, with the poor weather engulfing most of the US east coast, a number of data releases have been postponed; for example retail sales figures. This could turn the focus for GBPUSD exchange rates back onto Sterling which is already on a poor run of form.