The euro was there or thereabouts, a scant half-cent higher against the US dollar and two thirds of a cent firmer against the Swiss franc. There were no hugely important euro zone economic data to help or hinder, though those such as did appear were no great shakes. Germany's trade surplus shrank in May as exports fell by -1.8% and Euroland industrial production was down by -1.2% for the same month.

While the euro and the dollar coasted the British pound put in a stellar performance, strengthening by an average of 3.5% against the other dozen most actively-traded currencies. Its first boost came when one major uncertainty was removed by an early decision about who would be the new prime minister. Its second came when the Bank of England left its 0.5% Bank Rate unchanged; a quarter-percentage-point cut had been widely expected. The result was a weekly gain of nearly four cents for sterling against the euro.