Posted September 11, 2017
If the dollar could speak, it may not regard this week as one of its best. We could pick out some good results, though, and we shall do so here and now.
Here we go – and the US dollar started the week on 0.7724 against the British pound. It didn’t get a great start though, instead falling to 0.7715 today. Was this a bad sign of things still to come? The dollar began trading on 0.8389 against the euro, meanwhile, and it had a better start here – improving to 0.8399 by the close of play today. Would this signal a better week for the dollar? The third stop today is with the Swiss franc, where the dollar started the week on 0.9598 before falling to 0.9574 today.
The dollar did a little better against the British pound today, but not by too much. In fact, the exchange rate essentially stayed at 0.7715, because the improvement was marked out at just 0.001% over yesterday’s rate. More good news for the dollar versus the euro, though, as it rose again to close out the day on 0.8410. Two days down, three to go – but would those be as good as the first two? We also had a better day against the Swiss currency, rising to 0.9593 overall today.
After yesterday’s marginal drop against the pound, there was a bigger one in store today. The US dollar fell back to 0.7663, leading us to wonder what was still waiting for the dollar over the final couple days. Finally, a fall for the dollar against the euro, as the American currency ended the day on 0.8381 – lower than Monday’s opening rate had been. The same fall was seen against the Swiss franc, too, meaning the dollar slipped to close today on 0.9554.
More bad news today for the dollar, as the pound pushed it back to 0.7635. This looked set to be a forgettable week for the American currency, at least where the British currency was concerned. It became clear the dollar was going to have a week of two halves against the euro, as it slid once again today – this time finishing on a disappointing 0.8353. We were wondering whether the same could be said of the dollar versus the Swiss franc, as it fell here too, this time to 0.9533.
As we almost expected, the dollar dropped again today, falling to a closing rate of 0.7567 against the British pound. We also fell against the euro, sliding to 0.8291 to close the week on the lowest rate we had seen against that currency. And again, a fall was seen against the Swiss currency, as the dollar closed trading in that part of Europe on 0.9456. Clearly, it was going to be a tough time for the American currency to achieve anything notable this week.