Downward pressure on oil prices was unhelpful to the Loonie and with few meaningful Canadian economic data to distinguish from its big southern neighbour the Canadian dollar was held back by the listlessness of the US dollar. Together the negative forces resulted in a weekly loss of a fifth of a US cent.
It was a much worse result for the Loonie against sterling, with a loss of four cents. The pound shot an instant cent higher when the high court ruled that the Article 50 process of leaving the European Union will require the approval of parliament. Although the court's decision will be appealed by the government, investors fancy that parliamentary scrutiny will result in a more amicable divorce, one that will pose less of a risk to the UK economy. The Bank of England also helped sterling when it doubled its growth forecast for Britain's economy.