The Canadian dollar was relatively less successful than its Commonwealth cousins for much of the week, mainly because it got off to a poor start last Friday as a result of unexpectedly sharp falls in retail sales. It ended up with gains of six cents against an EU referendum afflicted sterling.

However, it gained nearly a cent on Thursday, rising to its highest level of the year on signs that oil prices may be starting to stabilize. The loonie closed at 73.85 cents US, up 0.79 of a cent after having moved consistently higher throughout the day.