A Tough Week of Trading Currencies in Europe for the US Dollar

Posted June 13, 2016

The US dollar does have some tough times in the currency markets, just as every other currency does from time to time. It soon became clear things weren’t all going to go its way this time around.

 

Monday June 6 2016

Here we go then, and today the US dollar got underway at 0.6928 against the British pound. Things soon improved though, as the dollar finished trading on 0.6936. Where would this take us for the remainder of the week? The week would start with a steep drop against the euro though, as the dollar opened on 0.8965 and closed on 0.8811 some hours later. The same was seen against the Swiss franc, where the dollar started out on 0.9906 before falling steeply to 0.9737.

Tuesday June 7 2016

After yesterday’s encouraging start, we were disappointed today to see the US dollar dip to 0.6862 against the pound. Very little change occurred against the euro today, but what did happen was slightly in the dollar’s favor as it stalled on 0.8812. The dollar did drop further against the stronger Swiss franc though, because it fell back a little more today, this time to 0.9674.

Wednesday June 8 2016

More of the same today for the dollar, as it fell further – this time to 0.6859 against the pound. At least the loss was a small one. More of the same was seen against the euro, as the dollar dropped below its opening rate for the week and fell to a disappointing 0.8788 today. More bad news was in store against the Swiss currency too, as the dollar dipped further to 0.9616 this time around.

Thursday June 9 2016

Finally, we were back to good news with the dollar today against the British pound. We managed to get to 0.6915 by the end of the day, which was almost back to where we had started on Monday morning. More good news occurred against the euro too, as the dollar pushed ahead to 0.8816 today. We had some good news for the situation against the Swiss franc as well, although it wasn’t huge in nature. The dollar did manage to edge ahead on 0.9623 today – its first rise of the week.

Friday June 10 2016

The week as a whole turned out okay for the dollar versus the pound. Today, it managed to creep ahead to 0.6942 – just a little better than the rate it had started on back on Monday morning. More of the same good news was seen against the euro too. The dollar finished on 0.8846 today, which was down on Monday but better than we’d seen midweek for sure. The dollar had taken until yesterday to rise at all against the Swiss franc, but it did manage to make it two days in a row this time. With a little push in the right direction today, the US dollar finished on 0.9629 – which was still well down on Monday’s opener.

 

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