Posted April 16, 2013
Some weeks are more challenging than others for some currencies, and this was definitely a challenging time when it came to the US dollar. Here we can find out why this was the case, and see how it performed on a daily basis.
When the week started the US dollar was standing at 0.6559 against the British pound. However the pound got the better of the dollar on day one, as the dollar dropped to 0.6534. The dollar started on 0.7725 against the Euro and here too it couldn’t do anything to avoid losing ground as it slid back to close the day on 0.7678. The dollar began the week on 96.175 against the Japanese yen, and it actually got off to a good start here as it rose to 98.640.
There was another disappointment against the pound today, as the dollar fell a little further to close the day on 0.6531. Will it improve tomorrow? The same pattern was in evidence against the Euro today as well, as the dollar fell back to a weaker position on 0.7668. There was better news against the yen though, as the dollar pushed even higher to 98.865 by the end of the day.
Yesterday we asked a question of the dollar versus the pound and today it answered. It did indeed manage to improve its exchange rate, rising slightly to 0.6532 in the process. However the same could not be said against the Euro, as the dollar fell further to 0.7641. Perhaps we might have expected to stumble against the yen by now, but there were no such signs in sight today. The dollar improved further to 99.105 instead.
After yesterday’s good news against the pound, the dollar performed badly today and finished up on 0.6494 as a result. The trend of falling against the Euro continued on for another day too, as the US dollar managed to drop further to 0.7622. Could it do anything to rise at all this week? The opposite was true against the yen, as the dollar hit a high of 99.390 by the end of today. Could it keep going for one more day for a truly successful week?
Finally the US dollar had one last chance to prove itself against the British pound. It did do better than yesterday but it still finished the week on a lower rate than it had to start with, ending on 0.6510. We had one final crack at the Euro too and here we managed to improve slightly to 0.7661, although this was nowhere near as promising as it would have been if it had regained its starting exchange rate. We stumbled against the yen today though, dropping a little to close on 99.249. However it was still a good week against the currency as the dollar was well ahead of its starting point.