Had it not been for the governor of the Bank of England's comments on Thursday the Aussie would have added half a cent on the week against sterling. As it was, Mark Carney said there was no certainty of higher UK interest rates next year, let alone this. His observation worsened the pound's defeat, leaving it with a net loss of nearly three cents.
The Australian dollar made ground against the American one as well, picking up half a US cent. It did so despite the Federal Reserve chairperson telling Congress that there is still a sporting chance that US interest rates will head higher next month. The Aussie's trump card was the Reserve Bank of Australia. When it kept its benchmark Cash Rate steady at 2% the statement spoke of improved economic prospects, lessening the chance of an eventual rate cut.