A Roller Coaster Week for the US Dollar

Posted August 11, 2014

This week would prove to be an interesting one in that you never knew what would happen next against any of the European currencies. Take a closer look at our results and you’ll see what we mean.

 

Monday August 4 2014

The US dollar started on 0.5943 against the British pound but it slipped back on day one, falling to 0.5939 as a result. Would this be the start of a prolonged slide back, or was there something else in store? The dollar started on 0.7465 against the euro but it slid back here too, falling to 0.7450 in the process. The third European currency to take on the US dollar – the Swiss franc – also got the better of the dollar today. We began on 0.9080 and slipped to 0.9064 by the close of play.

Tuesday August 5 2014

We experienced another small slide against the pound today, as the US dollar fell to 0.5932. We did however do better against the euro by climbing to 0.7472. How long could we hold on to that lead for? The same positive pattern was kept up against the Swiss franc too, as the dollar edged up further to 0.9098 today. Could we go higher still tomorrow?

Wednesday August 6 2014

Finally the dollar managed to claw back some losses against the pound today. It finished up on 0.5941 on the close of play. We had another great day against the euro too, rising to 0.7493 in the process. The same was said of the dollar versus the Swiss franc as the American currency broke through another barrier to reach 0.9106.

Thursday August 7 2014

After yesterday’s hard work the dollar was on the retreat again today, falling to 0.5939. We should have expected a bad result against the euro sooner or later as well, and today was the day it occurred. We saw the dollar slip to 0.7480. We didn’t have a good result against the Swiss franc today either: instead we fell to 0.9088 today. Would we experience a similar loss tomorrow too?

Friday August 8 2014

If we wanted to save the best for last we certainly did it against the pound. The dollar managed to improve to 0.5950 today, which meant we ended up higher than we’d started on. The same wasn’t true against the euro though, where we experienced another fall. This time we slipped back to 0.7469, although this was still marginally higher than Monday’s opening rate. We ended the week lower still against the Swiss franc as we closed things out on 0.9065. This was disappointing given the better rates we’d had just a couple of days ago. It also meant we ended up lower than we’d been on Monday to start the week, so it was a poor result all in all. The dollar certainly had experienced some tough results in between the good ones this week, and it never really came out on top at all.

 

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