The Canadian Dollar had a solid week and continues to either hold its ground or gain on major currencies. Optimistic data in the jobs sector boosted sentiments regarding the Canadian economy, helping it stay strong against sterling.
The Aussie Dollar was the other big market mover of the week as it gained 4-week highs against the US dollar. This was due to domestic data in Australia reaching multi-year highs this January. The rate remained high because of concerns with the health of China’s economy, which is an important export market for Australia.
The Japanese yen also seemed to have a positive week, gaining against most counterparts. This was despite less-than-positive data. This morning we had Chinese consumer price index figures released, which show inflation for the world’s second largest economy.
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