None of the major currencies could compete with the US dollar. Investors were taken by the short-term likelihood of higher interest rates - probably next month. They also liked the prospect of president-elect Trump's policies leading to higher growth, increased government borrowing and higher interest rates in the longer term. The Australian dollar fell by -3% against the Greenback, as did the euro and the NZ dollar. Sterling came away with a better result but was unable to put together a hat trick of winning weeks. It went up by 1.7% against the Aussie.

The pound and the US dollar were helped by strong retail sales data and sterling also received some assistance from another decent set of employment figures. Australia's jobs numbers were alright, in that they showed a swing back to full-time working but the 10k people that found new jobs in October were only half the 20k that investors had expected.