AUD/CHF was the top trade
The Australian dollar led the way last week entirely due to a strong rally on Friday as it climbed 1% against the US dollar.
The commodity currencies struggled to gain traction for most of the week even with equities and commodities climbing. That finally flipped on Friday as they all made decent moves to the upside.
At the bottom of the list is the Swiss franc, trailed closely by the euro. Both are looking like the long-term funding currencies in the post-pandemic cycle. Europe is struggling to secure vaccines and fiscal stimulus is much more difficult with a shared currency.
As for the Canadian dollar, I spoke with Reuters about the outlook and some of the details in the jobs report that were better than the soft headline.
This article was originally published by Forexlive.com. Read the original article here.