Posted August 31, 2017
Sometimes, you can never tell what is going to happen next. The US dollar had some good days this week, but as you’ll see, they were often followed by disappointment.
The week didn’t start well for the US dollar against the British pound, as it slipped from the opening rate of 0.7767 to 0.7764 today. At least that result was only a slight fall from yesterday – but what did the rest of the week hold in store? Our next European currency to check out is the euro itself, and here the dollar opened trading on 0.8517 before falling to 0.8502 today. This didn’t look good, but could we do better tomorrow? We did do better against the Swiss franc though, rising from 0.9614 to 0.9660 today.
Better news today as the dollar rose to 0.7791 against the pound, wiping out yesterday’s losses and taking us higher, too. We didn’t get better news against the euro though, as another fall took us down to 0.8495 today. After yesterday’s rise against the Swiss franc, we were back to bad news today as the dollar slipped to 0.9654.
More good news for the dollar today, as it took on the British pound again and won. This sent the dollar to 0.7808, giving us hope we could deliver a good week here overall. And once again, a fall occurred against the euro as the dollar dropped to close on 0.8475. This looked like it was only going one way this week – could we do anything to change that as the final couple days trading approached? We did manage to climb against the Swiss currency today, achieving a closing rate of 0.9655 today. But was that enough to trigger better news for the final two days this week?
Some further disappointment for the dollar today as it fell to 0.7792 against the British pound. This was still higher than Monday’s opener though, so that was good news at least. What could we do tomorrow to try and secure a good week overall? More bad news came against the euro as the dollar fell further to 0.8470 today. That made four bad days in a row, so we wondered whether it was too late to achieve anything better this week. Another drop occurred to take the dollar to 0.9634 against the Swiss currency, leaving us in an uncertain position with one day to go.
We were hoping for another rise against the British pound today, and we got our wish. The dollar finished on 0.7798 and thus got a good week overall, despite the few losses here and there. We half-expected bad news against the euro again today, and that’s what we got. The dollar finished on a poor 0.8468 today, dropping from the 0.8517 rate we’d started with on Monday. The dollar finished higher on 0.9646 against the Swiss franc, though, and this turned out to be better than Monday’s opener, so we had some good news there to close things out.