Posted May 18, 2015
This would prove to be a week filled with challenges for the US dollar. Here we delve into the details of its head-to-heads with several European currencies.
The US dollar went head-to-head with the British pound to start the week and did so in bad style, falling from 0.6487 to 0.6458 in the process. At least it was a fairly small loss. Things were a little better against the euro as the dollar opened on 0.8911 and improved to 0.8975 by the close of play. The dollar started on 0.9254 against the Swiss franc and had a good start here, rising to 0.9336 in the process.
Yesterday’s loss against the pound was made larger today as the dollar slid down to 0.6374, marking a loss of nearly a cent in the process. There was another significant loss against the euro too, as the dollar fell back to 0.8897 today. How would this affect the remainder of the week? A fall to 0.9249 was noted for the dollar versus the Swiss franc today, so clearly the dollar didn’t have a good result anywhere today.
A slight improvement for the dollar today, at least as far as the pound was concerned, as it edged up a little to 0.6393. Did this pave the way for a better result later in the week? More of the same was seen against the euro as the dollar improved its standing to 0.8911 today. The day was rounded off nicely with another marginal improvement against the Swiss franc too. This time it managed to edge up to 0.9277.
Another loss for the dollar today as the pound fought back after yesterday’s performance. This meant the dollar ended on 0.6332. There was a more severe drop against the euro though, which meant the dollar fell to 0.8757 today, leaving it with a real task to try and get back some of those losses. Another serious drop was noted against the Swiss franc too. Here the dollar found itself stalled on just 0.9095 by the close of play.
The dollar did manage to improve to finish the week on 0.6365 but it didn’t get back the losses it had made overall this week. After yesterday’s poor showing against the euro we wondered how things would finish today, but there was some good news to report. The dollar bounced back to 0.8827 today, although this was still some way off the opening rate it had started with on Monday. Another last-minute comeback was seen against the Swiss franc as well. Here the dollar managed to fight back to close on 0.9236, but again it couldn’t quite manage to regain enough to get back to where it had started on Monday. This had been a challenging week for the US dollar and not one that had resulted in many good results. Hopefully we can report on better next week.