The Australian Dollar was the week's strongest performer by a comfortable margin of 0.5%. It added more than one and a half US cents and went up by six and a half cents - almost 4% - against Sterling. Its progress against Sterling was relatively steady. The Pound lost ground across the board during the week, pursued by a series of statements that led investors to expect a "hard" Brexit and departure from the EU single market. 

Theresa May and Germany's Angela Merkel both gave that impression and the Pound took another hit when Downing Street announced on Thursday that Ms May would be addressing the subject next Tuesday.

The US Dollar's particular problem was president-elect Donald Trump's press conference, which focused on his business interests and unsubstantiated allegations about his leisure habits. No mention was made of the stimulative tax cuts and public spending that buyers of the US Dollar had been banking on.