A Stronger Week for the US Dollar

Posted October 26, 2015

This week would have its share of challenges, as is often the case. Yet the US dollar looked to be strong enough to meet most of them head-on, as you’re about to see.

 

Monday October 19 2015

Here we go then with a look at how the US dollar would square up against some of the major European currencies this week. For starters, it was worth 0.6475 against the British pound on Monday morning, but this dropped to 0.6456 by Monday night. Not the best start, that’s for sure. The euro isn’t having the best of times at the moment, putting the dollar in a strong position to try and claim a good week. It began on 0.8802 against the euro today, before rising to 0.8823. The dollar had a good start against the Swiss franc too, going from an opening rate of 0.9514 to 0.9559 over the course of today.

Tuesday October 20 2015

Better news today for the dollar as it moved up to 0.6464 against the British pound. Was this the beginning of a fightback of sorts? We didn’t get a good result against the euro though, instead dropping to 0.8792 today. Was this the start of a slippery slope? We had more bad news against the Swiss franc today, as the dollar lost most of the gains it had made yesterday. This took it back to 0.9516 as a result.

Wednesday October 21 2015

The dollar continued to do well against the pound today, rising to 0.6472. It still remained a little below the opening rate on Monday morning though, so there was still work to be done. Back to good news against the euro today as the dollar pushed ahead to 0.8807. Could it do more in the remaining couple days before the weekend? It managed a good day against the Swiss franc, moving ahead to 0.9568 today. Would it go further before the weekend too?

Thursday October 22 2015

After two good days today went the other way. As a result the US dollar dropped back to 0.6465 against the pound. Would it ever regain the opening rate it had enjoyed on Monday? Today the dollar did well once more against the euro, rising to 0.8839 on the penultimate day this week. More good news against the Swiss franc today as the dollar edged up to 0.9622, giving us just one day left to see whether further improvements could be made.

Friday October 23 2015

Finally we got some good news today. The dollar edged up far enough against the pound to close things out on 0.6491 – enough to get the highest rate of the week. We saved the best for last against the euro too, rising to 0.9022 as a result. The dollar did the same against the Swiss franc too, reserving the best rise for today and taking the currency to the best rate of the entire week. This turned out to be 0.9737 – representing a rise of 0.0223 overall for the week.

 

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