An Encouraging Week for the US Dollar

Posted March 06, 2017

Some weeks look good from the very start, and this was going to be one of them.

 

Monday February 27 2017

The US dollar began trading strongly against the British pound, starting on 0.7965 and rising to 0.8055 by the end of today. Was this a sign the week was going to go in the dollar’s favor, here at least? We got off to a great start against the euro as well, as the dollar rose from its opening rate of 0.9425 and finished on 0.9445 today. We were three-for-three by the time we’d got underway against the Swiss franc, going from 1.0037 today to 1.0072 instead.

Tuesday February 28 2017

The dollar dipped against the pound today, but not by much – only 0.065%. This took it back to 0.8049 by the close of trading. A similar dip was also seen against the euro, as the dollar fell by a slightly larger margin to 0.9436 today. And things carried on in a pattern as the dollar slipped to 1.0048 against the Swiss franc, too.

Wednesday March 1 2017

Back to good news for the dollar today, against the British pound at least. It managed to rise to 0.8122 and this meant we had achieved the best rate thus far – and still with two days to go. The same applied against the euro, because the dollar managed to repeat that feat by reaching 0.9493 today, making us wonder whether the remainder of the week would be just as good. The dollar was clearly having a great day, as it soared to 1.0108 against the Swiss currency as well.

Thursday March 2 2017

A slight rise against the pound for the dollar today, taking it to 0.8137 and exhibiting a cautious optimism for the final day of trading this week. Would the dollar manage to edge ahead further on Friday? The story was repeated once more against the euro as well, taking the dollar up to 0.9511 today. Where would things end tomorrow? Another good result was had against the Swiss franc, taking the dollar to 1.0130 with just one more day to go.

Friday March 3 2017

We were hoping for the best being saved until last, and this came to fruition for the dollar today. The final rate against the British pound was 0.8173. After following the pattern set against the pound all week, the dollar versus the euro diverged today, seeing a drop instead of a rise. We still ended up in better shape than we’d been in on Monday though, finishing on 0.9465 today. Once again, we had a drop against the Swiss franc after a largely-encouraging week, which meant the dollar stalled on 1.0104. However, when you look at the rate we’d begun with on Monday morning, we can see the dollar had done well once again. All in all, it had been a good week for the currency, giving us plenty of reasons to be hopeful for the coming week, too.

 

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