A series of potentially destabilising events and comments left the dollar surprisingly unmoved. It lost a third of a cent to the euro and a fifth of a cent to sterling but was still in the front half of the major currency field. On balance, the US economic data were positive for the dollar. Customer sentiment remained buoyant and the purchasing managers' index readings from the services sector were stronger than forecast. The resignation of Donald Trump's economic advisor, Gary Cohn, was balanced by an upbeat economic assessment from Federal Reserve governor Lael Brainard. Opening shots in the trade was were softened by the exclusion of Mexico and Canada from their impact.

Sterling pottered along quietly through the ongoing flow of contradictory Brexit comments from Downing Street and Brussels. There is a sense that investors are becoming exhausted by the process and will only begin to take notice once more when something new turns up.