The Canadian dollar was affected by a host of data, events and announcements, most of which were unrelated to the currency itself. Friday's US employment report, which showed a decline in hourly pay, sent the Loonie higher against the Greenback. On Tuesday it strengthened against sterling after the Bank of England governor told parliament that Britain's exit from the EU was "the biggest domestic risk to financial stability".

On Wednesday there was no reaction to the Bank of Canada's decision to keep its benchmark interest rate steady at 0.5% but the Loonie moved ahead on the back of higher oil prices. Thursday's announcement that the European Central Bank would cut rates further and print more stimulus money was better for the Loonie than for the pound. Overall, the Loonie was able to strengthen by three quarter of a US cent and by half cent against sterling. It was down by a cent and a quarter against the euro.