A Difficult Week in Part for the US Dollar

Posted December 06, 2016

There was no telling whether the US currency would have a good week or not to start with. In fact, what we saw initially turned out to be very different come the end of the week.

 

Monday November 28 2016

The week got underway with the US dollar sitting at 0.8042 against the British pound. This soon improved to 0.8056 which got us off to a good start. Would this continue beyond today, though? We started well against the euro too, rising from 0.9441 to 0.9444 to begin the week. It was only a marginal improvement but a good one nonetheless. We opened well against the Swiss franc too, rising from 1.0135 to 1.0153 today. Did this bode well for the rest of the week or was there more in store than we thought?

Tuesday November 29 2016

We wondered yesterday whether we’d manage to maintain our good start against the pound, and today we got an answer. We didn’t keep it up, instead dropping to 0.8019. Things looked better against the euro though, as the dollar pushed ahead further to 0.9455 today. Where would this lead us for the remaining days of the week? Another perk came against the Swiss currency, as the dollar pushed on to claim 1.0166 today.

Wednesday November 30 2016

The second poor result in a row came our way today, although at least the fall was smaller this time around. The dollar slipped back to 0.8015 today. After two good days against the euro, we didn’t perform well today, falling to 0.9402 here and losing nearly half a cent since yesterday. After two good days against the Swiss currency, the dollar finally lost ground today by dropping to 1.0157.

Thursday December 1 2016

More bad news for the US dollar versus the British pound today, which made it three poor days in a row here. The dollar finished up with a rate of 0.7913 today. What would happen tomorrow as the week came to an end? Back to better news against the euro, as the dollar pushed on and claimed a closing rate of 0.9409. The second fall in a row came against the Swiss franc as the dollar fell again, this time to 1.0128. Would we fall again tomorrow as well?

Friday December 2 2016

Finally, the US currency managed to edge up against the pound today. We finished on 0.7921, which was still lower than Monday’s opener had been. After an encouraging start to the week, the dollar was clearly faltering against the euro as the week came to an end. The biggest confirmation of this came today, as the dollar fell back to 0.9396. This was the lowest point of the entire week, putting the dollar at a considerably-lower point than it had been on Tuesday when it had stood at 0.9455. We also had a weak finish against the Swiss franc. Despite two good days to begin with, we managed to finish in poor fashion with today being the third bad day in a row. We ended here on a disappointing 1.0102.

 

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