Posted October 14, 2013
Some weeks produce more in challenges than we might expect. The US dollar certainly had its fair share of challenges this time around, as you’ll see when you read our report for this week.
The US dollar stood at 0.6242 against the British pound at the start of the week, but it soon dropped to close out the day on 0.6227. As far as the Euro was concerned, it couldn’t get the better of the US dollar today. The dollar managed to improve from the starting rate of 0.7399 to 0.7403 by the day’s end. The third European currency to go head to head with the US dollar this week is the Swiss franc. The dollar managed to drop slightly here too, falling from 0.9123 to 0.9122 throughout the day.
After yesterday’s disappointing start against the pound, the US dollar picked up some ground today and managed to improve to close on 0.6266. Another improvement was on the cards for the dollar against the Euro today, with the rate pushing up to 0.7422. There was good news too against the Swiss franc, as the dollar pushed back up to close on 0.9125 today.
By the start of today the US dollar was healthier than it was at the start of the week – but would this continue? The answer was no, as the dollar fell back to finish on 0.6232. A similar picture popped up against the Euro too, as the dollar dropped to 0.7405. We hadn’t seen much movement against the Swiss franc so far this week, but there was a bigger movement today as the dollar fell to 0.9111 – not the move we were hoping for.
This was proving to be an up and down kind of week, and today the dollar was edging up again – this time to 0.6236. There was a tiny improvement against the Euro as well, but only by 0.0002. If we were getting used to the falls against the Swiss franc it would only make us ready for another one today. There seemed to be nothing the dollar could do to improve things here, as it dropped to 0.9102 by the end of trading.
If we follow the pattern that has been in place for the entire week so far, we would come out with a loss today – and that turned out to be the case in reality. The dollar closed on 0.6205 against the British pound, which meant it finished lower than it had started back on Monday morning. The broad picture was the same against the Euro too, as the US dollar finished on 0.7387, lower than yesterday and also lower than the starting rate on Monday. And one last piece of bad news came in the form of a fall to 0.9047 for the dollar versus the Swiss franc. Perhaps the dollar had nothing much to fight with when it came to European currencies this week.