It was a week of muted currency price action for major developed currencies.
Sterling and the Swiss Franc were broadly unchanged in trade-weighted terms while the Dollar was down only 0.5%. The Euro did dip over 1% to the bottom of a 2%-wide, two-month range.
At the other end of the spectrum the Kiwi Dollar gained nearly 1% to hit a 2-month high while the Australian Dollar appreciated a meaningful 2%, within touching distance of a 10-week high. The Australian currency benefited from a bounce in global equities and commodity prices (and global risk appetite) and some decent domestic macro data (including retail sales and exports in March).
