A Curious Week for the American Dollar

Posted October 30, 2017

Sometimes you just never know what is coming next. Would this be one of those weeks? It certainly looked like it was going to be.

 

Monday October 23, 2017

The US dollar faced the British pound today on a starting rate of 0.7583. However, this soon improved to reach 0.7588 by the close of play. A small improvement, but maybe it was one we could build on. Elsewhere, the dollar began trading on 0.8461 against the euro, before increasing its position to close out the day on 0.8517. The dollar began trading on 0.9813 against the Swiss franc this week, and started well by reaching 0.9864 by the close of play today.

 

Tuesday October 24, 2017

We had another similar day against the pound today. The dollar managed to add on a little progress to reach 0.7593 by the day’s end. The picture was very different against the euro though, where the dollar fell to 0.8502 today. At least the drop was a minor one. No such drop occurred against the Swiss franc though. Instead, the dollar rose again to 0.9874 today.

 

Wednesday October 25, 2017

Finally, we had a drop against the British currency, which saw the dollar lose a half-cent or so to dip to 0.7542. Would this be the start of a slide toward Friday? Another fall came against the euro too, as the dollar slid further to 0.8485 today. Now we were wondering whether this was going to be a week-long fall, and Monday’s opener gave us a false sense of security. Things continued to go the way of the US dollar versus the Swiss franc though, as the dollar moved ahead to 0.9919 today. 

 

Thursday October 26, 2017

Back to better news after yesterday’s slight decline against the pound. This meant the dollar ended the day on 0.7573. Not as good as Tuesday’s closer, but good enough to allow us to hope for better tomorrow. We also had some good news against the euro at last, for the first time since Monday. We managed to raise the dollar to 0.8508 here. Another small rise occurred against the Swiss currency too, which meant the dollar reached another high today – this time of 0.9936.

 

Friday October 27, 2017

Finally, the US dollar did well to finish on the best rate of the week against the British pound. This turned out to be a healthy 0.7637. The same also occurred against the euro. After a couple of uncertain days, the American currency finally ended the week on 0.8616 today – the best rate we’d seen the whole week. We all know the idea of saving the best for last, and the dollar made it five out of five good results against the Swiss franc this week. It reached a high of 1.0023 today, reaching parity with the currency and doing a little better too. That is a great way to finish our report, but will the dollar hang onto that rate next week as well?

 

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