Posted February 01, 2016
Some weeks produce far better results than others, while some produce a real mixed bag. This would be one of those weeks, and while good results were hard to find at times, there were some to be unearthed.
As trading began, the US dollar stood at 0.6981 against the British pound. It had an encouraging day though, as it closed trading on 0.7017. Was this a good omen for a potentially good week ahead? The dollar didn’t do as well against the euro though, instead falling from 0.9252 to 0.9246 today. This didn’t seem to bode well for the rest of the week, but as we know, it is only one day. Things can change. They changed for the better against the Swiss franc, certainly, as the dollar rose from 1.0131 to start, to a closing rate of 1.0153 today.
The good news kept coming today, as the US dollar once again increased its position against the British pound, this time finishing on 0.7021. This was not the case against the euro however, as the dollar fell further after yesterday’s poor start, taking it to 0.9227 in the process. There was however a slight improvement against the Swiss franc, meaning the dollar ended the day on 1.0157.
We had to experience a dip sooner or later, and for the dollar versus the pound it came today. The dollar slid back a little to close on 0.6976. Was it the start of a slippery slope, or simply a blip? We’d soon find out. We had another blip against the euro too, as the dollar fell to 0.9184 today. Would we be able to rectify this, or was it simply going to be a bad week? We did have more encouraging news against the Swiss franc though, as the dollar edged ahead further to 1.0165.
Back to better news today, thankfully, as the dollar perked up to 0.6991 against the British pound. No such news came against the euro, as the dollar fell once again to 0.9171. Today marked the first day of the week where the dollar managed to drop against the Swiss franc. The drop meant the dollar was almost back to where it had begun on Monday, dropping as far as 1.0137 today. What would happen tomorrow?
There was better news today too as the US dollar closed things out for the week. It managed another slight rise against the pound, taking it to 0.6997 for the week. Yet once again, the dollar managed to slide against the euro. This meant the currency had experienced a fall every day this week, and today it took it down to 0.9157. Thankfully, we did save the best for last against the Swiss franc, despite the drop we’d had yesterday. The dollar edged ahead to 1.0205 today, which was the highest rate of the week.