Posted April 07, 2017
You never know what is going to happen from one week to the next on the currency markets. So, would this be a good week for the US currency, or one that would be best forgotten?
If we wanted a good start against the British pound, we didn’t get it this week. Instead, the US dollar started on 0.8173 and dipped to 0.8147 today. Was this an ominous sign of things to come, or would the news improve as time went on? The day didn’t go well against the euro, either, as the dollar opened trading on 0.9465 today and fell back to 0.9441 by the time the day was done. We began on 1.0104 against the Swiss franc, meanwhile, and had a disappointing day here, falling to 1.0096 in the process.
We wondered yesterday if the dollar would do better as time went on, and it did today. By the time trading was over, the dollar stood at 0.8198 against the pound. There was more good news against the euro as well, as the dollar rose to 0.9455 to finish the day. We didn’t have good news against the Swiss franc yesterday, but the dollar put that to rights today, rising to 1.0145 as it did so.
Today proved to be another good one against the pound, as the dollar edged ahead once more, this time to 0.8218. Could it do the same for two more days as well? The news continued in a good way against the euro, as the dollar moved up to 0.9473 today. We did well against the Swiss franc yesterday, but it wasn’t replicated today, as the dollar fell to 1.0138 instead.
The dollar had to slip at some point, and today turned out to be the day when that happened. It fell back to 0.8212 against the pound, so where would that leave it with one day to go? It didn’t slip against the euro, though, because it managed to move further ahead to 0.9477 today instead. We also had some good news against the Swiss franc, moving from yesterday’s rate to achieve better news today on 1.0149. Would we manage to achieve the best news of all tomorrow, or would there be another drop on the way.
It’s always good to finish on an encouraging note, and the US dollar did just that against the pound today. It managed to finish on 0.8226, which was the best rate of the entire week, too. There was a drop against the euro, though, because the dollar ended up on 0.9428 for the week here. This was slightly below the opening rate for Monday. We fell against the Swiss franc, though, and this meant the US dollar finished on 1.0129 here. This was still higher than we’d started with, though, so the overall news was good to close the week on.