A Mixture of Good and Bad

Posted October 22, 2013

Some weeks provide a pattern of mixed results that don’t point to an overall success or failure for certain currencies. This was certainly the case this week for the US dollar, as you’ll see here.

 

Monday October 7 2013

The US dollar stood at 0.6230 on day one this week against the British pound, but it couldn’t sustain that level all day, instead falling to 0.6216. So how would the dollar perform against the Euro? It started on 0.7356 and had a better day here, rising to 0.7368 in the process. As for the situation against the Swiss franc, the dollar began the week on 0.9027 and ended today slightly better off on 0.9034.

Tuesday October 8 2013

Yesterday’s fall against the British pound was replicated again today, as the dollar fell further to close things out on 0.6206. A similar picture was seen with another fall against the Euro, as the dollar closed on 0.7365. Small gains and losses seemed to be the order of the day – and perhaps the week too – as the dollar rose again compared to the Swiss franc, edging up to 0.9048 today.

Wednesday October 9 2013

After two days of falls against the pound, the US dollar finally got a good result today. This led to it finishing on a better rate of 0.6262. Once again the dollar did well against the Euro too, leading to a healthier rate of 0.7399 being achieved here. By now you might think the dollar was ready to experience a drop against the Swiss currency too, but this wasn’t the case. Instead it rose again, hitting a week long high thus far of 0.9110.

Thursday October 10 2013

The good news continued against the British pound today as the dollar managed to edge up a little further to close on 0.6267. After some good results against the Euro the dollar couldn’t carry on with them for another day though. Instead it fell slightly to 0.7389. We saw a similar picture – finally – against the Swiss franc, as the dollar ended up losing some of the ground it had made up over the past few days. Instead of rising again it fell back to finish trading on 0.9097.

Friday October 11 2013

After two bad days and two good days we knew it could go either way to end the week – and the dollar ended up dropping slightly to 0.6258 against the British pound. Finally we had a disappointing result against the Euro too, falling to finish things on 0.7371 at the end of the week. We have just one more result to look at, which is the US dollar’s finishing rate against the Swiss franc. Here we saw the currency hit a low point of 0.9077 compared to the past few days, although it was higher than it had been at the start of the week. All in all we’ve seen a good mix of ups and downs, which is typical of many weeks on the currency markets.

 

Comment