The Aussie continued to rebound from January's five-year low against the US dollar and extended the Bull Run against sterling which began last summer. It gained one and a quarter US cents on the week and was up by a cent and two thirds against the pound.
There were no significant Australian economic statistics to affect the currency. Business confidence was steady in February while consumer confidence softened slightly and mortgage lending was down. The biggest influences on the currency were external. Against the US dollar the Aussie was helped by Friday's data showing a decline in American hourly wages. It moved ahead on Tuesday after the Bank of England governor told parliament that Britain's exit from the European Union poses "the biggest domestic risk to financial stability". The Aussie initially lost ground to the euro when the European Central Bank announced lower interest rates and increased stimulus but with 24 hours it had recovered.