Both of the antipodean dollars had a rough week, suffering in almost equal measure. For the Aussie it meant a loss of two and a half US cents and a two-and-a-quarter-cent loss to sterling. It was not quite a one-way-street but the downward pressure seemed fairly constant.
The few Australian economic statistics were not a lot of help, with construction work falling in the first quarter and new home sales slowing. A sharp -4.4% quarterly fall in private sector capital expenditure was particularly damaging. The greatest cause for concern was the estimate that capital spending in 2015-16 will be 24.6% less than in 2014-15.
Along the way the antipodeans suffered collateral damage from some punchy American ecostats which kept alive investor's belief that US interest rates will begin to head higher before the end of the year. Strong US payrolls numbers next Friday would reinforce that belief.