The Canadian dollar delivered an average performance, in that it was unchanged on average against the other dozen most actively-traded currencies. It strengthened by half a US cent and went up by two and a half cents against the last-placed British pound. The economic data from Canada told no compelling story. Retail sales rose by a respectable 0.7% in March but only because of strong car sales, without which they were down by -0.2%.

Inflation was steady at 1.6%. The Bank of Canada's policy statement, in which it kept its benchmark interest rate unchanged at 0.5%, was positive for the Loonie because of its implication that the next - eventual - move for interest rates could be upwards. Sterling was dogged by concern about a "hard Brexit" and the UK economic data did it no favours. The downward revision to first quarter growth from 0.3% to 0.2% was a particular disappointment.