Posted September 19, 2016
The US dollar wouldn’t have an easy time of it this week, as our report here soon shows.
Well, if we wanted a good start against the British pound, we certainly got it. The US currency rose from its starting rate of 0.7504 to 0.7524 by the end of today. Did that look good for the rest of the week too? We’d soon find out. The dollar had a good start against the euro too, heading upwards from 0.8874 to 0.8907 today. Would this be the case in the coming days as well? Another slight improvement started off the week against the Swiss franc, as the dollar moved up from 0.9734 to 0.9740 today.
Another slight rise against the pound was in store today as well for the dollar. It headed further up to 0.7536, even though the increases were pretty mild at the moment. Not so against the euro though, where the dollar fell to 0.8891 today. This wasn’t what we were hoping for. The same pattern was borne out against the Swiss franc as well, seeing the dollar fall to 0.9713.
More good news today saw the dollar head further in the right direction against the British pound. Its closing rate turned out to be 0.7584. Back to good news against the euro today as well, thankfully. It was much more encouraging to see the dollar rise to 0.8914 here. The progress against the Swiss franc looked to be identical to that of the euro, as the dollar had another rise today. Here, it took us to 0.9756 and the highest rate of the week so far.
Well, it had to happen sooner or later, and today was the day. What do we mean? Simply the drop of the dollar versus the pound. It wasn’t a massive drop, so it only took the dollar back to 0.7570 overall. Another drop kept the up-and-down pattern going against the euro too, as the dollar fell to 0.8885 with just one day of trading left to repair things. The pattern kept on coming against the Swiss currency, as the dollar dropped back to 0.9721 today.
After yesterday’s stall, we had better news to finish on today. The dollar rose again and finished on 0.7589 against the British pound. The pattern we had seen against the euro this week kind of demanded a rise today to keep things in the same pattern overall. This is exactly what we got too, as the dollar managed to edge ahead on 0.8907. This was also the best rate we had against the euro all week, so at least we had the best for last. It wasn’t quite the same against the Swiss franc, even though we did get a better rate today than we had yesterday. We finished on 0.9746 here, which was better than we might have had otherwise, and better than the original opening rate had been as well.