Currency and Financial Articles
Iceland may have been in the news last year for its volcanic eruption, but there is news to be had from its currency as well. The Euro certainly had a lively month against the Icelandic krona during January, as you are about to find out.
When 2010 finally came to an end, the Euro finished the year off with an exchange rate of 1.3322 against the Canadian dollar. But would 2011 proceed with a better or worse rate during January on the currency converter? Let’s find out what actually happened and which of the two currencies would be better off come the end of the month.
The first day back after the holidays saw the rate fall to 1.3085, but the very next day it bounced back to 1.3298 for the Euro. The end of that first week saw the exchange rate fall below those two figures, giving us a closing rate of 1.3060 in the process.
Perhaps the question should be not whether it could push against it, but whether it could push and win a better exchange rate in the process. It may have been the festive season but were either of these currencies in a festive mood on the currency converter? We shall see which one eventually won the battle and went into 2011 in better shape against the other.
When we mention two dollars, we could be talking about several different currencies. But this time we are referring to the US dollar and the Hong Kong dollar, to see which of them was in the stronger position against the other when 2010 came to an end.
The US dollar and the Canadian dollar may share a geographic border, but their currencies can be worlds apart from one another at times. They can go close to parity, but would this be the case during December when we were focusing on how the currencies would act on the currency converter up until the closing days of the year? Would the US dollar be able to get the good result it wanted up until 2011 got started?
Most people will know by now that the Euro is going through a very tough time at the moment. The single European currency has had a real struggle to remain in anything remotely like a strong position in recent weeks and months, and we can see this more than ever when we compare it to the results we have seen against the US dollar.