The Aussie's result for the week was roughly similar to that of the Canadian dollar and the Swedish krona. It was down by two and a quarter cents against sterling and lost a third of a US cent. Apart from a decent 0.6% monthly increase in retail sales the Australian ecostats were not particularly helpful, with a slowdown in construction and a weakening of business confidence.
The main influence on the Aussie, however, was the unexpected election of President Trump in the States. For global shock value it totally eclipsed Britain's vote to leave the EU, persuading investors that Brexit was maybe not the year's scariest black swan event. In the febrile atmosphere that followed, the Aussie fell, rose, and fell again. In the meantime sterling revelled in the schadenfreude of America's surprising decision and cruised to the front of the field for a second week, strengthening by an average of 2.4%.