Posted January 18, 2016
This week would bring a real mixed bag of results for the US dollar where the varied European currencies were concerned. What would it manage to achieve, and could it hold on to those achievements until the end of the week?
The US dollar began trading this week at 0.6861 against the British pound. The first day went well, but the marginal increase was so small you’d miss it if you didn’t look a few decimal points along. It rose from 0.686115 to 0.686122. However, there was a drop against the euro to start the week, taking the dollar from 0.9207 to 0.9184 in the process. Was this a bad omen for the rest of the week? The dollar started off on 0.9999 against the Swiss franc and dropped back a little here too, going down to 0.9977 in the process.
After the small increase against the pound yesterday, we had something more substantial to celebrate today. This was an increase to 0.6928, which looked promising for the rest of the week too. Better news against the euro came along too, as the dollar rose to 0.9228. After yesterday’s drop against the Swiss franc, a rise to 1.0017 today came as something of a surprise. Could the dollar replicate that in the coming days, though?
There was more good news for the dollar today, as it edged up to 0.6936 against the pound. Could it keep this up for another couple days? The dollar also built on yesterday’s rise against the euro, rising further to close on 0.9245 today. More good news came along for the dollar versus the Swiss franc too, rising still further to 1.0101 today.
We were wondering whether the US dollar could continue to improve against the British pound, and today at least the answer was yes. It rose further to 0.6949 with just one day of trading to go. Finally though, we had disappointing news against the euro, as the dollar dropped back to 0.9180. This was the lowest point of the week so far, and with one day to go, it made us wonder whether it might go lower still. Finally we had a drop against the Swiss franc though, as the dollar fell to 1.0052 today.
The dollar made it five out of five against the British pound this week, rising to close on 0.6977 today. The currency also had the worst finish against the euro, as it achieved the lowest rate of the week against that European currency, on 0.9162. Clearly, the dollar had peaked too soon against the Swiss franc, as the closing rate of 1.0033 came into view today. However, the dollar was still ending the week in better condition than it had started it. So there were some good results mixed in there, but they were tempered by some disappointing ones as well this week.