Domestically it was an unremarkable week for the Loonie.  Canadian economic data were in even shorter supply than usual.  The Ivey purchasing managers' index looked better than its European and North American equivalents; housing starts were fewer than forecast and building permits increased by more than expected.  It was not until Donald Trump confirmed that the US would withdraw from the nuclear treaty with Iran that the Loonie took off.  The prospect of renewed American sanctions on Iranian exports sent oil prices to their highest level since 2014 and the Canadian dollar followed them upwards.  On the week the Loonie added half a US cent and strengthened by three quarters of a cent against sterling.

Having started the week well, sterling's nose was bloodied by comments from the Bank of England governor on Thursday.  UK interest rates probably will eventually go up but Mark Carney was totally noncommittal about when that might be.