Dips, Troughs and Rises – It’s All Happening on the Currency Market

Posted April 07, 2014

Some weeks are filled with drama on the markets and the US dollar certainly had its fair share of drama this week. The crucial question though is whether the dollar would come out on top in the end.

 

Monday March 31 2014

Here we are on the last day of March, so how would the US dollar fare as one month turned into the next? It began on 0.6012 against the British pound but dropped back a little to 0.6006 by the end of the day. Elsewhere the dollar started off at 0.7267 against the Euro and fell here too, finishing the day on 0.7252. Would the dollar experience something similar against the Swiss franc as well? The short answer was yes, as it fell from 0.8856 to 0.8843 over a single day.

Tuesday April 1 2014

There was better news for the dollar versus the pound today as it rose slightly again to 0.6013, edging past the starting rate it had been on yesterday. Against the Euro, the dollar dropped a little further from where it finished yesterday, stalling on 0.7251 as the day ended. Another drop was in store against the Swiss franc too, which saw the dollar end up on 0.8831 by the day’s end.

Wednesday April 2 2014

This was a real seesaw week by the look of it, as the dollar dropped again today and ended on 0.6002 as a result. There was no such pattern against the Euro though, as the dollar fell even further to close on 0.7249. At least the drops here were relatively small each day. We did however do a little better against the Swiss franc as the dollar rose to 0.8836.

Thursday April 3 2014

Once again we were in for a rollercoaster result but at least today it was a better one. The dollar ended up on 0.6024 by the day’s end, so it had achieved the best rate of the week so far. Finally we had some good news against the Euro, as the dollar pushed back and managed to close out the day on 0.7261. Could it do the same tomorrow to swing the week in its favor? There was another encouraging result against the Swiss franc as the dollar managed to rise as far as 0.8865 by the close of trading. Could it do the same tomorrow as well?

Friday April 4 2014

Could the dollar do better than it had yesterday or would it experience another drop in value? Fortunately the former turned out to be true as it finished the week on 0.6034. We also managed to achieve a good rate against the Euro after a tough start to the week. We finished on 0.7299 which was rather better than the opening rate had been. Perhaps the best was saved for last though, as the dollar rose to 0.8930 against the Swiss franc. This was possibly the best result to end on, which was great news considering the week had started off in such a challenging way.

 

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