Posted July 24, 2014
Some weeks see different patterns against different currencies, whereas others see a specific pattern throughout the week. Which way would this week go, and would the US dollar come out of it with a good result or a bad one?
The week got underway with the US dollar standing at 0.5841 against the British pound. We didn’t see much change today but what little there was went the way of the dollar, rising to 0.5845 in the process. Over in Europe, the dollar was worth 0.7355 against the Euro before dropping back to 0.7338. The US dollar also had a weaker start against the Swiss franc. It opened on 0.8931 but that didn’t last too long; it dropped down to 0.8908 by the time the day was over.
After yesterday’s slight improvement today went the opposite way. The dollar dropped back to 0.5826, giving us a reason to wonder which way things would go next. We got the opposite picture against the Euro though, as the dollar rose to 0.7345 by the end of today. We had a better result against the Swiss franc as well, as the dollar pushed up to finish on 0.8919 today.
This was proving to be a real up and down week and it was proven again today, as the dollar perked up to 0.5840 against the pound to close things out. After the ‘here and there’ nature of the days so far against the Euro, the dollar did very well today and rose to 0.7389 as a result. How much further could it go this week? There was a similar picture against the Swiss franc, as the dollar managed to put on a significant amount. It ended up closing today on 0.8983. Would it break through the 0.89 rate tomorrow though?
There was another improvement against the British pound again today, as the dollar managed to add on some more power against it. The closing rate now was 0.5847. How would things end tomorrow? We got another good result against the Euro too though, this time pushing the US dollar up to 0.7393. Could we get another one for the last day of the week? There was a tiny drop against the Swiss franc but it really wasn’t too big, as the dollar fell back to 0.8981 today.
With just today to go, the dollar managed to edge up once again to get the best result of the week. It closed trading against the pound on 0.5852. There was no change against the Euro today but the dollar did manage to end on the healthiest rate it had achieved all week. And finally we saw a drop against the Swiss franc, as the dollar closed things out on 0.8978. This was still an improvement on the starting rate though. Where would it end up by this time next week?