Canada's dollar lost ground to sterling during most of the week as confidence grew that Britain would vote to Remain in the EU in Thursday's referendum. It edged higher against the US dollar, which was held back by cautious comments from the Federal Reserve chairperson pointing to no more than one interest rate increase this year.

The sky fell in on global financial markets on Friday morning as it became clear that Britain had voted to Leave. America's dollar strengthened sharply, as is usually the case in times of crisis. The British pound tanked, sustaining its biggest-ever daily fall. The euro suffered because of the questions that the Leave vote poses to the EU. The net result for the Loonie over the week as a whole was a loss of three quarters of a US cent and a gain of nine and a half cents against sterling.