Posted March 22, 2016
Few weeks present us with a series of rises or falls alone. Most weeks have a mix of the two, and that would be indicated this week as well on the currency markets.
The US dollar started the week well against the British pound at least, rising from 0.7154 to 0.7217 today. However, one good day doesn’t make a good week, so where would the rest of the week take us? We saw a similar good result to start with against the euro too, as the dollar edged up from 0.9085 to 0.9184 today. As the week opened against the Swiss franc, the dollar began on a rate of 0.9930 before rising to a significant rate of 1.0023.
As we suspected yesterday, the dollar was up against a tougher time today. The British pound managed to push it back down to 0.7156 today, making us wonder where the remaining three days would take it. It was a different story against the euro though, where the dollar managed to push ahead to 0.9197 today. Yesterday’s good result against the Swiss franc was not repeated today, as the dollar fell back to 0.9988 today.
Another drop for the dollar versus the pound today, as the American currency fell back to 0.7130. Would there be a couple more drops in store as well? We had a third good result in a row against the euro, however, as the dollar rose to 0.9211 today. Could it manage to do the same again over two more days? We’d soon find out. There was a marginal increase against the Swiss franc, but only so far as 0.9989. It made us wonder what the remaining two days would have in store for the dollar.
More bad news today as the dollar fell back to 0.7103, the lowest rate of the week so far against the pound. We finally experienced a drop against the euro today however, as the dollar fell back to 0.9173 by the end of trading. There was another drop against the Swiss currency as well, as the dollar fell to 0.9944 today.
As if we didn’t already half-suspect it, the dollar had another poor performance today as it dropped to 0.7063 against the British pound. Clearly, this wasn’t its finest hour. Another slice of disappointment was served up against the euro too, as the dollar dropped back to 0.9115. This was better than Monday’s starting rate had been though, so that was good news at least. But we had another disappointment against the Swiss franc as well, as the dollar fell to close out the week on 0.9934. This was marginally better than Monday’s opener had been, but only just. We had hoped for better news but it was not to be. At least we had a reasonable week all told on the markets this time around.