Although it only managed third place overall the Aussie was up there with the US and Canadian dollars, losing just a tenth of a cent to the second-placed Greenback. Australian economic data were few and far between: mortgage lending fell for a second month while business and consumer confidence were both higher. Demand for the Aussie was boosted by the government's sale of $7.6bn-worth of 30-year bonds yielding 3.27%. The issue was hugely oversubscribed.

Sterling was at the back of the field, narrowly ahead of the politically-troubled South African rand. As usual it was the Brexit bogeyman that took it lower. It flared briefly when it looked as though parliament would be allowed a vote on Brexit but fell again when the Brexit secretary shot that idea down. Sterling lost three and a third Australian cents on the week, taking its cumulative loss since Brexit Eve to -18.2%.