A Challenging Week for the US Dollar

Posted September 12, 2013

Sometimes we can see a clear pattern in the way the currencies change throughout the week. Would the US dollar do well or badly this week? Let’s find out so we can see how things ended against a raft of other currencies.

 

Monday September 2 2013

As the week began, the US dollar started on a rate of 0.6452 against the British pound. This soon dropped though, falling to 0.6418 by the end of day one. Would this be a pattern that would be seen throughout the rest of the week? The opening rate against the Euro was 0.7555 but this improved quite quickly thanks to the performance of the dollar. The closing rate today was 0.7571. As for the state of the US dollar versus the Canadian dollar, the opening rate was 1.0529 and this improved ever so slightly by rising to 1.0530 by the end of the day.

Tuesday September 3 2013

After yesterday’s fall against the pound, the dollar recovered slightly today, reaching a healthier rate of 0.6432 by the close of play. We had more good news against the Euro too, as the dollar managed to climb to a closing rate of 0.7591. However it would not be good news all round, as the dollar ended up dropping back against the Canadian dollar, finishing on a lower rate of 1.0525 as a result.

Wednesday September 4 2013

Today we were back to Monday’s disappointment against the pound, as the dollar fell to 0.6406. Where would we be once the week was over? We experienced another rise against the Euro, although it was a very small one, taking us to 0.7592 in the process. After yesterday’s drop against its Canadian counterpart it was perhaps predictable to see another drop today. It ended up falling to 1.0488, leaving us wondering what the rest of the week had in store.

Thursday September 5 2013

It did not come as a surprise to learn the US dollar had another fall in store today, slipping back to 0.6386 against the pound. The only question was whether it would dip further or improve on the final day. It was perhaps only a matter of time until we would get a fall against the Euro though, and today was the day. The dollar fell to 0.7574. The currency slowed down its rate of loss against the Canadian dollar, but it still fell a little further to 1.0480 as a result.

Friday September 6 2013

We asked a question about the US dollar yesterday and today we got our answer. The dollar actually improved on the final day of the week, rising to close on 0.6419. The closing rate against the Euro was better than the opening rate on Monday had been, finishing on a healthy 0.7623 as a result. Finally we had another drop against the Canadian dollar, as the US dollar struggled in to close out the week on 1.0430. Perhaps next week will be better all round.

 

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