Posted October 08, 2014
Some weeks are better than others for the US dollar, and at other times some European currencies seem to get the better of it. Which way would things turn out this week and how would we approach the results as they came in?
So let’s see what the US dollar could do on day one. It started with a rate of 0.6131 against the British pound and had a good day to start the week off, rising to 0.6162 as a result. It did pretty well against the euro too, starting on 0.7854 and closing out the day better off with a rate of 0.7873. Our third European currency to look at today is the Swiss franc, where the dollar started on 0.9480. Once again we had nothing but good news for starters, as the dollar improved to 0.9503 by the end of the day.
There was more good news against the pound today as the dollar managed to rise to 0.6177 by the close of play. Would this turn out to be a great week? It certainly looked to be going that way as the dollar edged higher against the euro as well, rising to 0.7947 as a result. We then had three out of three as the dollar finished today on 0.9586 against the Swiss franc so it was all looking very good at this point.
There was a marginal drop against the British pound for the dollar today, but it really was only quite small. It fell from 0.6177 to 0.6174 so there was little to worry about. We also saw a drop of around the same size as the dollar fell to 0.7934 against the euro. We should therefore have expected something similar against the Swiss franc and we got it. The dollar ended up closing the day on 0.9578 today.
The dollar was pushing to get a couple of good days to finish on here and it managed to do well today at least against the pound. It closed slightly higher on 0.6194. The dollar bucked the trend against the euro though, instead turning in another drop to take it down to 0.7917. We had another drop in store against the Swiss franc too, putting into doubt whether or not we could stay with some good results for the week as a whole. Here we finished on 0.9567 with just one more day to go.
The dollar really did want to save the best for last this week as it managed to achieve a week-long high of 0.6224 against the British pound. It also managed to stall the losses of the last couple of days against the euro, taking it to a closing rate for the week of 0.7926. We managed to get better against the Swiss franc as well to finish the week off, rising to 0.9582 to close things out.