The Australian dollar did not have a great deal to say for itself. It was in the back half of the major currency field, two thirds of a cent ahead of the euro, a third of a cent ahead of sterling and a sixth of a cent behind the US dollar. Australian economic data neither helped nor hindered: the construction sector purchasing managers' index was a couple of points lower on the month but still positive; business confidence improved; retail sales were flat in March; mortgage lending was down. The Aussie's main help came from Donald Trump's reimposition of sanctions on Iranian exports. Oil producers' currencies saw the most benefit but other commodity exporters were also dragged higher.
After a decent start to the week sterling fell apart on Thursday after the Bank of England governor offered his opinion on interest rates. They are not going up yet and they might not do so for some time. Investors were unimpressed.