A range of less than two cents covered sterling's movement against the NZ dollar and the two were unchanged against one another. They were also unchanged against the US dollar. Yes, it was a fairly quiet week. Sterling showed early promise, as investors covered speculative short positions following the delivery of Downing Street's Article 50 divorce letter to Brussels. There was no carry through, though, and the pound blotted its copybook with a weaker-than-expected purchasing managers' index reading from the manufacturing sector. It redeemed itself later when the equivalent figure from the services sector came in a point and a half higher than forecast.

Two NZ business confidence measures both showed companies to be less ebullient in March than they had been previously. The fortnightly GDT index showed milk prices rising by 1.6%. There was nothing in those numbers to inflame passions for the Kiwi in either direction.