Elsewhere, the New Zealand dollar has struggled this week, with a better-than-expected budget deficit not enough to stop the currency slipping across the board. Wednesday’s quarterly economic growth release showed the effect of recent weakness in commodities prices, as growth of 0.4% missed the forecast level of 0.5% and sent the New Zealand dollar to a 1-week low against sterling.
The Swiss central bank took the same approach as the US Federal Reserve and made no change to interest rates citing uncertainty on whether or not the Eurozone will increase their programme of quantitative easing.
It was a good week for the Canadian dollar, with Manufacturing sales showing its largest growth in four months. Attention will turn to the consumer inflation today, which is expected to slightly increase.
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