The dollar strengthened against sterling over the week. It was no major achievement: Every currency strengthened against sterling, which was dragged lower by the expectation of higher UK interest rates fading ever further into the future. The pound fell by an average of -1.1% against the other dozen most actively-traded currencies. It lost two thirds of a cent, -0.5%, to the dollar.

A week on from the Federal Reserve's long-awaited decision to increase interest rates, investors struggled to find new reasons to buy the US currency. It was outpaced by every major currency apart from the Canadian dollar. The US economic data were mostly ordinary, with durable goods orders flat in November and third quarter growth coming in at 0.5% for an annualised expansion of 2.0%. The only even vaguely important ecostats scheduled for the week ahead are for house prices and consumer confidence.