Last Friday it was the US employment report that grabbed investors' attention. The monthly increase in nonfarm payrolls was 156k, fewer than expected and well below average for the year. However, they decided it was not a bad enough number to prevent the Federal Reserve taking interest rates higher this year. The minutes of the Fed's September policy meeting appeared to confirm that notion and it is still game-on for a December rate hike, so the dollar added a cent against the euro.
It did much better than that against sterling, picking up nearly two and a half cents. The pound had another rotten week, taking its loss since Brexit Eve to 26 cents, -17.5%. It did have one good day, when it looked as though parliament would be allowed a vote on Brexit terms, but the Brexit minister kicked that idea into touch and the pound headed lower again.