Posted August 25, 2014
The patterns were not the same when comparing various exchange rates to others for the US dollar this week. Some outcomes were markedly better than others, as you’ll see here.
As the week got underway the US dollar was standing at 0.5991 against the British pound. Unfortunately for Americans this dropped to 0.5979 by the close of play. Let’s see how things panned out against the euro now. The dollar began the day on 0.7469 and ended it on 0.7472, so there was a little improvement here. When it came to the US dollar and the Swiss franc, the dollar started on 0.9048 and dropped a little ground to close out today on 0.9046.
We had better news today as the dollar rose to 0.6010 against the pound, erasing the losses of yesterday and making sure the dollar was ahead. We saw another improvement against the euro too, as the dollar moved up to 0.7488. The pattern was continued with the Swiss franc too, as the dollar managed to achieve a more notable result to climb to 0.9063 today.
After yesterday’s good result we lost a little ground today, but fortunately the dollar only slipped back to 0.6007 against the pound. It could have been worse but could we hold this position or would we lose ground again over the remaining two days of the week? More good news came up against the euro as well today as the dollar closed things out on 0.7527. We were in for another good day against the Swiss franc as well, as the dollar pushed ahead to close on 0.9113.
We had another good result against the pound today as the dollar achieved a high of 0.6026 today. This was a great outcome – but could we go one better tomorrow? We certainly went one better against the euro as the dollar got an even better outcome, closing on 0.7540 today. The dollar kept on pushing back against the Swiss franc as well, and today it managed to close on 0.9130, a vastly improved exchange rate compared to the beginning of the week. But with another day to go would it stay this way or would the dollar lose ground?
Well we often talk about trying to save the best for last and the US dollar did just that against the British pound this week. It closed the day and the week on 0.6032 so things were looking up here. We didn’t quite get the result we wanted against the euro but since we closed on 0.7537 we were at least better off than we’d been on Monday. We should have realized we’d lose ground against the Swiss franc today after the good run of days we’d had going in the opposite direction. However it wasn’t by much as the dollar slipped to 0.9120, which was still better than earlier in the week.