Posted September 05, 2017
Not every week can be a good one for every currency on the markets, and this week looked to be the turn of the American dollar to navigate some rough seas.
So, the dollar got underway on 0.7798 against the British pound today, before dropping to close on 0.7742. That meant we were already down, and wondering whether things would progress the same way tomorrow. The same pattern soon popped up against the euro too, where the dollar opened trading on 0.8468 before falling to 0.8385 by the end of the day. It was not going to be a good week, clearly, because the dollar then fell from 0.9646 to 0.9550 today against the Swiss franc. Would we manage to achieve anything better than that as we looked further ahead?
The dollar dropped against the pound once more today, falling to 0.7716 by the day’s end. Would things turn around soon, or would this be the continued picture we would get all week? If yesterday’s fall against the euro was disappointing, todays was worse – we fell to close on 0.8300 today. So, what was in store tomorrow? Another drop was in store against the Swiss franc today, at least, as the dollar dropped to 0.9450.
Finally, some better news for the US dollar versus the pound today, as the dollar moved up to 0.7741. Could it maintain this for a couple more days? The same pattern was repeated against the euro, as the dollar edged ahead on 0.8392. We did get some better news against the Swiss currency also, as the dollar moved up to 0.9585 today.
More good news for the US dollar as it moved ahead to 0.7777 today against the British pound. We were still lower than we’d started on though, so was there another improvement to be made tomorrow? Another leap was made in the right direction against the euro, too, as the dollar achieved a closing rate of 0.8456 today. We were hoping for better news tomorrow as well, but was that too much to hope for? We’d soon know. And again, better news came as the dollar edged ahead to 0.9679 against the Swiss franc – but we knew it may not stay that way tomorrow.
Finally, the dollar dipped again today against the pound, taking it down to 0.7724 to close, and lower than Monday’s opener had been. Better luck next week, maybe? The same thought crossed our minds as we saw the US dollar drop to 0.8389 against the euro today, which was also lower than Monday’s opening rate. So, bad news in two areas so far – would it be a third against the Swiss franc, too? There would, which was disappointing, because the dollar fell again here, dropping to close the week on 0.9598, and again, this was lower than its opener had been earlier.