The Australian dollar performed best last week, while the Swiss franc lagged

AUD / CHF was the largest transaction

AUD / CHF was the largest transaction

The Australian dollar led the way last week, fully due to a strong rally on Friday as it rose 1% against the US dollar.

Commodity currencies struggled to gain traction for most of the week, even as stocks and commodities rose. That eventually changed on Friday, as they all made decent moves upwards.

At the bottom of the list is the Swiss franc, closely followed by the euro. Both look like the long-term funding currencies in the post-pandemic cycle. Europe is struggling to secure vaccines and tax incentives are much more difficult with a shared currency.

As for the Canadian dollar, I spoke to Reuters about the outlook and some of the details in the jobs report that were better than the soft head.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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