Posted July 27, 2015
This week had a real mix of results, as the US dollar did better on some days than on others. There was no real pattern to it either, as you are about to find out.
The dollar had a good start against the British pound today. Its opening position of 0.6412 rose to 0.6423 by the time the day was over. Was this a good omen for the week as a whole? The dollar began trading on 0.9183 against the euro and had a good day here as well. It rose to 0.9214 by the time trading was done for the day. There was an improvement on day one against the Swiss franc too. The dollar started on 0.9579 and ended up rising to 0.9623 by Monday night.
Another piece of good news today for the US dollar – it crept up further against the British pound to close on 0.6429. A slight drop was in store against the euro though, as the dollar slipped back to 0.9202. The pattern was repeated with a fall against the Swiss franc as well. Here the dollar slipped back to 0.9607 today. Did this lay the foundations for more bad news from tomorrow onwards though?
We knew there had to be a blip in trading against the British pound, and the dollar experienced that blip today. It slid back to 0.6404 as a result. There was more bad news against the euro as well. Here the dollar managed to fall back to close on 0.9172 today, which was a real disappointment. It seemed as if today wasn’t set up to be a good day, but then it unexpectedly rose against the Swiss franc. This left it at 0.9614 at the close of play.
There was another slide against the pound today, but you had to go further down the decimal points to see it. It started the day on 0.640433 and finished it on 0.640422. Today also turned out to be the third day in a row where the dollar fell against the euro. This time it meant the closing rate was a mere 0.9091. Could it get a better result tomorrow on the last day of the week? Another bad piece of news came for the dollar as it fell back to 0.9561 against the Swiss franc. What would happen with one final day left to trade on?
The dollar certainly finished the week in good style as it managed to close things out on 0.6462 this morning against the pound. We asked a question yesterday against the pound that was clearly answered today – and it was answered in the affirmative. The dollar did indeed do better against the euro as it improved to close the week on 0.9141. The same was the case against the Swiss franc, as the dollar climbed back up to 0.9609 today – better than Monday’s opening rate had been.