Japan's yen romped away with the lead after its central bank failed to deliver the expected new monetary stimulus. Sterling came second, beating the rest of the field on four successive days after the US president spoke in favour of Britain's continued EU membership. The Loonie took bronze, losing three quarters of a cent to the pound and taking more than a cent off the US dollar.

It took its cue from Stephen Poloz, the governor of the Bank of Canada. He said in a speech that whilst negative Canadian interest rates could not be ruled out, he was "quite far" from considering such extreme measures. Investors took his comments to mean that rates would not be cut unless some new economic shock were to arise.

The important Canadian ecostats all arrived in a rush last Friday. Retail sales rose by a monthly 0.2% and inflation came in at 1.3%. Both sets of data exceeded investors' expectations.