The Canadian dollar strengthened by two cents, 1%, against the pound over the week. It was no great achievement, given the pace of sterling's retreat: The Loonie was the second worst performer among the major currencies, losing half a US cent. Nothing went badly wrong for the Canadian dollar but investors focused on Tuesday's consolidated figures for gross domestic product in the first quarter. Having expected to see 0.7% growth they were disappointed when it came in at 0.6%.
That was still enough to keep the Loonie ahead of the pound. Sterling was punished after an opinion poll in The Guardian unexpectedly put Leave ahead of Remain for the referendum on EU membership in three weeks' time, with the Leavers on 52% and the Remainers on 48%. To investors it spelled greater uncertainty for Britain and they responded by offloading the pound, leaving it way out at the back of the major currency field.