Some fairly decent US economic statistics were of surprisingly little help to the dollar. The employment report from Friday the 5th, showed significantly more jobs being added in May than analysts had expected, which in turn did send the currency higher but that advantage had been eroded by Monday evening. Thursday's stronger-than-expected retail sales data had no effect at all.
The sensation was that investors decided the dollar was high enough. It fell by a cent and a half on the week against sterling and was just about unchanged against the euro.
In the coming week the most important figures will be Thursday's inflation data. The most significant event will be the Federal Reserve's monetary policy decision on Wednesday, when there is an outside chance of the first interest rate increase in nine years. Investors expect there to be no change to the Federal Funds Rate but a surprise cannot be ruled out.