At its (roughly) six-weekly Governing Council meeting on Thursday the European Central Bank made no alteration to monetary policy, other than to say it will now include corporate bonds in its asset purchase programme and to remind investors that interest rates will remain low for a long time. Investors were disappointed that the bank was not more upbeat about its outlook for the Euroland economy and the euro fell after the ECB president's press conference.

Even so, it was down on the week by only a third of a cent against the US dollar and it gained two cents against sterling, which was weaker on average by -1.8% against the other dozen most actively-traded currencies. The pound was wounded by an opinion poll that gave the Leavers a four-point lead, 52-48, over the Remainers for the EU in/out referendum in three weeks' time. It led investors to stay away from the pound.