Posted December 08, 2014
Some weeks deliver a predictable pattern on the currency markets, while others do not. Which way would this week go for the US dollar?
It soon became clear the US dollar wasn’t going to have a great start against the British pound this week. From a starting rate of 0.6371 we ended up worse off on 0.6357 by the end of the day. Against the euro the dollar did a little better, rising from 0.8010 to close on 0.8019 today. Could it keep up this pattern throughout the rest of the week? It managed another good start against the Swiss franc, as the dollar opened on 0.9627 before going higher to end on 0.9646 today.
Today the dollar managed to get back the losses it had experienced against the pound yesterday, and it added on a little more as well, rising to 0.6387 in the process. There was more good news against the euro too, as the dollar rose to 0.8048 to finish the day. The dollar was looking strong against the Swiss franc, delivering the second great result in a row to finish on 0.9690 today.
We were back to bad news today with the dollar versus the pound, as we ended up lower down on 0.6375. At least the losses so far were pretty small. We managed to keep on doing well against the euro though, as the dollar pushed on ahead to close on 0.8109 today. The same could definitely be said against the Swiss franc, where the dollar edged up further to 0.9757 today.
Today was another better day, as you might have expected from the pattern so far. It meant the dollar closed out on 0.6385 against the British pound. Could it deliver another good result to close tomorrow? It got the result it wanted once more against the euro, delivering the fourth rise in a row to close on 0.8122 today. Would it manage five out of five here this week? We were wondering the same thing against the Swiss franc, as another good result was seen there today, taking the dollar to 0.9775 in the process.
We wanted a good result today but the dollar dipped against the pound instead. This meant it closed the week slightly better off overall on 0.6375. After a great week against the euro the dollar finally lost some ground today, closing out the week on 0.8089. This was better than the opening rate on Monday though, so it was good news overall. The exact same result happened against the Swiss franc too. The dollar dropped back to 0.9724 to finish the week but again, this was better than Monday’s opening rate so the drop almost didn’t matter. All in all it had been a pretty solid week for the US dollar, even though it didn’t get great results everywhere.