The NZ Dollar took second place for the week behind the Australian Dollar. In both cases it was the goings-on elsewhere that allowed them to move ahead. The Kiwi picked up almost one US cent and strengthened by five and a quarter cents against Sterling - 3%. Its gains against the Greenback were mainly the result of an awkward press conference held by US President-elect Donald Trump. Its main focus was on Mr Trump and his alleged business and leisure interests: no mention was made of the stimulative tax cuts and public spending upon which buyers of the US Dollar had pinned their hopes.

Sterling's problem was a growing concern that the coming Brexit will be a "hard" on, involving departure from the single market. Britain's Prime Minister fed that fear, as did her opposite number in Berlin. The Pound even took a knock on Thursday afternoon when Downing Street announced that Ms May would be speaking about Brexit on Tuesday.