The Canadian dollar shared the lead with the Norwegian krone. In a way it was a strange result, given that Norway and Canada are both oil-producers and the price of that commodity spiked lower on Tuesday afternoon. But oil later recovered and is just about unchanged on the week and the few Canadian economic statistics were vaguely positive for the Loonie.
The purchasing managers' index, which looks at current and expected activity in the private sector, showed an improvement in the manufacturing sector. Raw material - input - prices fell by -2% in November while industrial product - output - prices were up by 0.3%. That might not be good news for raw material producers but it implies widening margins for manufacturers.
A cent-and-a-half gain for the Loonie over the pound was eclipsed by the Canadian dollar's 2% rise against the Greenback. The US dollar's loss was the result of the Federal Reserve's apparently lower appetite for higher rates.