The Head To Head Between The US Dollar And The Euro
So let’s see what happened as the month of February got underway. For starters we had the US dollar at a rate of 0.7187 at the end of the first day. And by the time that first week was done with, the dollar was on 0.7304. This was clearly a very good start and it gave us hope that we could eventually see a better rate for the dollar at the end of the month as well.
The following week started well with the dollar edging up slightly by claiming a rate of 0.7312. But the Euro had other ideas and it didn’t want to just lie down and not try to fight back at all. The following day saw a rate of 0.7267 being recorded, but after that it was back to the top for the US dollar. It clearly didn’t want to let the Euro back in, because the rest of the week saw a steady increase for the dollar that enabled it to end on a strong 0.7368 on Friday evening.
What happened as the following week got underway? Well it wasn’t the best start for the US dollar as it finished on the Monday night on a slightly lower rate of 0.7349. This wasn’t too much to worry about though as it hadn’t lost much ground. The downward trend continued the next day too however, with a closing rate of 0.7326. And on the 17th we saw another dip which took us below the 0.73 mark to 0.7285. Could we regain that level before the week was out?
Indeed we could, as we did just that the next day. This gave us a renewed rate of 0.7370 and we managed to hang onto it for the remaining day of the week as well. This was when the dollar exerted some extra pressure against the Euro and pushed back up to 0.7397 by Friday night.
We were on a roll now, or at least it seemed like it. But by Monday morning of the following week we were on 0.7338. The Euro was edging closer to coming back but it was too late to do anything notable for this month at least. The dollar was still firmly in charge and it peaked at a high of 0.7413 on the 25th. Since there was just one more day of trading before the month was over, we were hoping to hang onto the 0.74 rate. But instead we had to settle for 0.7369 on what was the closing day of a pretty strong month for the US dollar against the Euro. Will it continue in the same vein though?