Posted July 31, 2012
When we think of Europe we think of the Euro, but there are other currencies still in play in that region. How would the US dollar fare when going head to head against some of the biggest ones of all?
If we were looking for a good start to the week it looked as though we got it, thanks to the performance of the US dollar against the Euro. Here we started on 0.8196 and made it up to 0.8261 by Monday evening. The dollar began the week on 0.6379 against the British pound, and we had a good week here too, climbing to 0.6441 by the close of play today. The opening rate against the Swiss franc was 0.9843 and we had a good day here to start the week, as the dollar rose to 0.9921 by the end of the day.
We couldn’t manage to improve as much against the Euro today as we did yesterday, but the US dollar still managed to carve out a slight increase, taking it to 0.8271 in the process. However we didn’t do as well against the British pound, falling slightly to 0.6439 by the end of the day. We bucked the trend with the Swiss franc though, as the dollar pushed on further to finish against 0.9934.
After two good days against the Euro we wondered whether the dollar would struggle a little today, and unfortunately we were right. Here the dollar fell to 0.8241, dropping 0.003 in the process. There was better news against the British pound today as the dollar carved out an improvement to 0.6454. But the mix of good and bad news continued as we took another look at the ongoing situation against the Swiss franc. Here we went from 0.9934 to 0.9897, so there were few reasons to celebrate today.
Tuesday was clearly the peak between the US dollar and the Euro this week, because we had another loss on the cards today. The dollar slid back to 0.8156, making us wonder whether we’d experience another loss tomorrow. After yesterday’s good news against the pound there was bad news to follow it today, as we dropped to 0.6384 by the close of play. If we thought yesterday’s news against the Swiss franc was bad, we had further bad news today. The dollar slid to 0.9796, giving us another reason to wonder whether the entire week would close on a poor note here.
Yesterday’s wonderings about a potential loss today proved well founded as the US dollar dropped further to close out the week on 0.8118 against the Euro. Furthermore there was no good news to finish the week against the pound, as the dollar fell to 0.6356 to finish the week’s work. The last port of call is with the Swiss franc, and we couldn’t find any way of doing better here either, as the dollar fell down to 0.9750 to finish a disappointing week overall.