Posted October 08, 2014
We’ve got some great results for you this week, with some interesting turns of events midweek to focus on as well. The US dollar sometimes finds it a challenge to do well against different currencies but here things looked as though they were doing well.
The dollar had a pretty good start to the week with a slight increase against the British pound. From a starting rate of 0.6119 it managed to close out the day on 0.6123. We also started well against the euro, where the opening rate for the dollar was 0.7780. By the time trading was over we were better off on 0.7785 instead. The dollar also enjoyed a slight improvement over the Swiss franc today, taking it from 0.9389 to 0.9395.
Yesterday’s good start against the pound was forgotten by the end of today as the dollar ended up sliding back to 0.6096. A similar picture was seen against the euro as the dollar slipped back to 0.7756. It was the same all round because we also lost ground against the Swiss franc, falling to 0.9361 in the process.
It looked as though this was going to be a challenging week for the US dollar. Yesterday’s loss was replaced today by a slight improvement, taking the dollar back up to 0.6099. What would happen next? A better picture was also seen against the euro as the dollar edged up to 0.7796. Once again the picture was better today against the Swiss franc than it had been yesterday, as the dollar increased to 0.9416.
Yesterday’s question was answered today as the dollar pushed back against the pound to improve its position. We were on 0.6139 by the end of today, leaving us wondering where we would end up tomorrow. After yesterday’s good result against the euro we had another one today. This took us up to 0.7866 and put us in a good position for the remainder of the week. The same improvement was seen against the Swiss franc as well, taking the dollar up to 0.9499.
Well we didn’t lose too much against the British pound today but we didn’t end up where we wanted to be either. The dollar closed the week on 0.6131. We lost ground against the euro but it wasn’t enough to ruin the good work we’d put in already this week. The dollar managed to hang on to a closing rate of 0.7854. We saw another drop against the Swiss franc today but as was the case with the pound it didn’t really spoil things. Here the dollar finished the week on 0.9480, which was much better than it had started with on Monday. Overall the dollar had done well throughout the week, which was more than could be said of some weeks on the currency markets. We can only hope for more of the same next time around.