A Fair Share of Drama for the US Dollar

Posted May 11, 2015

Some weeks have few ups and downs to report on, but this would not be one of them. We have all the latest news about the US dollar here.

 

Monday May 4 2015

Here we go then – and the dollar got off to a great start against the British pound at least, rising from 0.6479 at the start of the day to 0.6616 by the end of it. The upcoming UK election meant uncertainty for the pound, and the dollar took full advantage. Could it do so for the rest of the week too? The dollar opened proceedings on 0.8916 against the euro and it did well here too, rising to 0.8967 today. There was a slight increase against the Swiss franc too, taking the dollar up to 0.9353 from its opening rate of 0.9349.

Tuesday May 5 2015

The dollar actually lost a little ground against the pound today as it fell to 0.6611. Another good day against the euro though, as the dollar rose to 0.8995. It was back to bad news as far as the Swiss franc was concerned however. After yesterday’s marginal gain in exchange rates the franc slipped a little today and closed on 0.9333.

Wednesday May 6 2015

Another loss against the British pound today – the dollar finished up on 0.6568. This wasn’t what we’d been expecting. There was bad news against the euro as well – the first of this type this week – as the dollar fell back to 0.8904. There was also a drop against the Swiss franc, and a more notable one than we’d seen yesterday. This time the dollar fell to 0.9237, losing over 1% of its value in the process.

Thursday May 7 2015

Only a marginal loss against the pound today but it was still a loss, as the dollar slipped back to 0.6567. There was a bigger loss against the euro however. Here the dollar ended up on 0.8845 with just one day of trading left to go. Could it recover the last two days’ worth of losses to get back to where it had begun? Another drop was in store against the Swiss franc as well in what was proving to be a rough week for the dollar. This time it fell back to 0.9149.

Friday May 8 2015

If we were hoping the dollar could recover today against the pound we were wrong – it ended up on 0.6487 instead. However this was still better than Monday’s opening rate so it could have been far worse. The dollar did manage to finish on a better note against the euro, but it didn’t quite manage to get back to its opening rate on Monday. However it did finish on 0.8911 so things were pretty much on an even keel there. The same pattern played out against the Swiss franc as well. Today the dollar finished on 0.9254 so it did regain some of its losses, but not enough to get back to where it had begun on Monday morning.

 

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