It was not such a winning week for the Canadian dollar but it still managed to outperform its antipodean cousins and was one of only two currencies to make gains against sterling, where it picked up two thirds of a cent. The US dollar had a far better week though, thanks to an interest rate increase by the Federal Reserve and the prospect of three more next year. The Loonie lost three quarters of a US cent, having first touched a two-month high.

Canadian ecostats were exceedingly thin on the ground: the only one that might have mattered was a -0.8% monthly fall in manufacturing shipments and even that had no impact on the currency. UK data were more plentiful and, on the whole, reasonably good. The trade deficit narrowed and inflation accelerated to 1.4%, both at least partly as a result of the weaker pound, and average earnings were up by an average of 2.5%.