Posted August 05, 2014
Some weeks have stronger days than others for the US dollar, and we saw this pattern this week as well. While the daily picture was not always good, the overall one was healthier.
There was a marginal difference in the exchange rate between the US dollar and the British pound at the start and end of today. To begin with the dollar was on 0.5886 and by the end, just a few hours later, it stood at 0.5885. Over in Europe the dollar did well to start against the euro too, rising from 0.7440 to 0.7444 across the day. Another European currency, the Swiss franc, also was unable to do much against the dollar. The US dollar started on 0.9041 today and moved up to 0.9044 by the time the day was over.
There was better news for the dollar today as it rose against the British pound to close on 0.5900. Could it improve still further from now on? There was another slight improvement against the euro too as the dollar edged up a little to 0.7446. There was another jump up against the Swiss franc too, seeing the dollar close out trading on 0.9049.
We posed a question for the dollar yesterday and it answered it in style today. It improved a little against the pound, closing on 0.5907 as a result. Today saw another larger jump up against the euro as well. The US dollar managed to end trading on 0.7462, but could it carry on like this throughout the week? We saw a healthier improvement against the Swiss franc as well, which seemed to have nothing much to fight back with this week. As a result the dollar closed today on 0.9077.
Yet another improvement was logged for the US dollar today as it rose to 0.5925 against the pound. Could it manage it for another day to finish the week in style? We did get another good result against the euro as well, as the dollar rose to 0.7474 today. We also made it three out of three for today at least, as the dollar finished with a flourish against the Swiss franc, rising to 0.9095 as a result.
We were hoping for another good result against the pound today and the US dollar did finish on a good note. It finished off on 0.5943 for the week. We couldn’t say the same against the euro though, as the dollar slipped back to 0.7465. Clearly the day wasn’t the best one for the dollar, because it lost some ground against the Swiss franc as well. Here it closed the week on 0.9080. While it was lower than yesterday’s final exchange rate it was a lot better than Monday’s starting rate had been. This was good news at least, and it made us wonder what the next week would have in store.