The Polish zloty continued its early week strengthening against sterling by almost 3% following positive sentiment from Polish Prime Minister Donald Tusk when commenting on the economy’s difficult early start to the year.
The Australian dollar also had a good week in relation to sterling following the central bank’s shift in stance from the need to weaken the currency to promote trade; this saw Sterling/Australian dollar rate fall to a three-week low. This sentiment was reinforced by figures released on Tuesday which defied forecasts for a negative trade balance, proving a greater demand for exports than imports from Australia.
The week’s trend towards emerging markets saw a strengthening of the Russian rouble which levelled off yesterday. With no further Russian data scheduled for release today the rouble should finish off the week up over a percent in relation to the pound, subject to data releases from the UK.
Canadian employment figures due for release today are the most likely to have a significant impact on the Canadian dollar.
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