A Great Week for the US Dollar – But Not for European Currencies

Posted February 22, 2016

This would be an interesting week for us to review, and as you read the information below you will see why this is the case. It would be a strong week for the US dollar, as it went up against a variety of major European currencies.

 

Monday February 15 2016

Here we go then, and the US dollar started well against the British pound this week, rising from 0.6894 to 0.6905 today. Does this bode well for the rest of the week, though? The good result was matched by the dollar versus the euro, too, as it climbed from 0.8869 to 0.8944 today. More good news came in against the Swiss franc as well, as it became clear the dollar had more than enough in the tank to go up against all the European currencies. It went from an opening rate of 0.9746 to closing out the day on 0.9847.

Tuesday February 16 2016

Another good result came in today against the British pound, as the dollar moved ahead further to 0.6947 today. The same could be said against the euro, too, as the dollar moved ahead to close out the day’s trading on 0.8955. Another rise occurred against the Swiss franc, too, as the dollar edged ahead further to finish today on 0.9867.

Wednesday February 17 2016

Three great results in a row were achieved after today came to an end, with the US dollar achieving a day-ending rate of 0.6989 against the British pound. What would the remaining two days hold in store though? Things still kept moving ahead against the euro as well; the dollar ended higher still today on 0.8979. The same picture was seen once again in relation to the Swiss franc. Today’s closing rate for the dollar was 0.9908.

Thursday February 18 2016

Finally, we had a drop against the pound today. It was bound to happen, and today saw the dollar fall back to 0.6959 as a result. However, this was not the case against the euro, where the dollar managed a still better rate today of 0.9022. We also achieved four good rates in a row against the Swiss franc, as the dollar moved ahead still further to 0.9949 today.

Friday February 19 2016

If yesterday made us wonder whether we’d seen the best days of the week already, today proved us wrong. The dollar finished on the best rate yet against the pound, rising to 0.7003 by the close of play. Finally, though, we did see a drop against the euro, as the dollar slipped back to 0.9012. This was still far better than the opening rate had been back on Monday morning, though. The same pattern was borne out against the Swiss franc, too, as the dollar fell back to 0.9928 today. It remains to be seen whether the same encouraging pattern will be seen again next week. At least for now, though, we can enjoy the good results.

 

Comment