For the dollar and the British pound last week was all about central bankers and interest rates. Federal Reserve chairperson Janet Yellen told a congressional committee that she still expects an increase in the Federal Funds rate to come this year as long as the economic data remain robust.
Bank of England governor told a parliamentary committee that time of the first Bank Rate increase "is moving closer" and later said it was likely to be "around the turn of the year".
Both the dollar and the pound strengthened on their central bank chiefs' comments. They were also helped by continued uncertainty about Greece's relationship with the euro. Sterling got the best result among the major currencies, strengthening by two and a half US cents on the week. The dollar took second place, adding two cents against the euro.