The Aussie held onto its yellow jersey, showing the other major currencies the way for a second week, although it did not enjoy the same crushing victory over sterling. The pound enjoyed a significant rebound. That was partly because the previous week's fall had been so dramatic and partly because even the grizzliest of sterling bears realised they could not continue to sell it at the same pace for the next 16 weeks until the EU referendum. The final result put the Aussie one cent ahead of second-placed sterling. It picked up a cent and a half against the US dollar and four and a half cents against the euro.

A general tilt away from safety and towards risk assisted all the commodity-oriented currencies. The Aussie received specific help from the balance of trade data, which showed exports rising and imports falling, and from stronger-than-expected quarterly growth of 0.6% in Q4 2015.