By Gary Howes

The pound sterling's (GBP) momentum against the CAD has waned with the month of March seeing little progress made. But, are things about to get a whole lot worse?

The losses come even as the British pound (GBP) is seen rallying elsewhere suggesting moves here are clearly being dictated to by the CAD.

Many commentators are saying the carry trade is back on - i.e investors are sending money where interest rates are greater, with Canada, New Zealand and Australia benefiting.UK Retail sales data saw the GBP initially strengthen against the Canadian unit on Thursday, but subsequent losses confirm momentum is headed in the opposite direction.