GBP/CAD Market Closes Temporarily as Canadian Economy Slows

The GBP/CAD market closed on August 7 at 2:00 pm and will reopen on August 9 at 2:00 pm.

In other news, Canadian economic activity expanded at a slower pace in July, with the Ivey Purchasing Managers Index (PMI) falling to 55.1 from 56.2 in June, its lowest level since March.

Federal Reserve Chair Kevin Warsh mentioned that if inflation is in your face, you have to tighten up, and noted that the job market is in a weak balance, but expressed confidence that the Fed will reach an inflation rate of 2%.