Posted February 28, 2014
Here we are with the first complete week of trading on the international currency markets in the New Year. Would it be one to remember for good or bad reasons?
As the week started the US dollar was worth 0.6091 against the British pound. Today saw an improvement in the right direction, as the dollar increased to 0.6104. As far as the Euro was concerned, it was also in for a rough time. Here the dollar managed to begin on 0.7334 and end on 0.7351, providing another good result for the start of the week. In another part of Europe the dollar was contesting a result against the Swiss franc as well. Here it started off on 0.9028 but finished on 0.9056, providing a good place to start from on day one.
We were hoping for more of the same good news after yesterday, but it was not to be the case. Instead the dollar dropped back to 0.6093 against the pound. A similar story was played out against the Euro too, as the dollar fell to close on 0.7330. There was a small increase in store against the Swiss franc though, which saw the US dollar end the day on a healthier 0.9066.
The overall trend against the British pound was definitely down for the US dollar, as it fell back to close out trading on 0.6088 today. However it was back to good news against the Euro, as the dollar pushed back and finished in style on 0.7356. There was better news too for the dollar against the Swiss franc, as it soared higher to 0.9109.
There was more disappointment for the dollar as far as the pound was concerned, as the dollar slid further to 0.6066. Where can we hope the dollar will end up as we close the week tomorrow? It ended up lower against the Euro today as well, falling a little to 0.7346 as a result. We were bound to see a lower result against the Swiss franc sooner or later and today was the day – it dropped to 0.9086.
If you remember we started the week back on 0.6091 against the pound, experiencing a series of small losses since then. Fortunately we were able to improve things today and end on 0.6094 for the week as a whole. One final change was in store against the Euro as well, but this was a good one that saw the currency rise to 0.7359, going higher than it had started off at on Monday morning. There was to be no final increase against the Swiss franc today, but at least we could minimize the losses. The final rate seen here was 0.9083 and that was better than we’d seen earlier on in the week, if only by a small amount. It really had been a mixture of results this week for the US dollar.