Posted January 03, 2013
We have a reduced week of trading this week, with the usual five days of trading reduced to three for the Christmas vacation period. But it didn’t mean it would be a dull week, as you are about to find out.
Today is Christmas Eve and while everyone’s attention was turned to the forthcoming holiday, there was still a day of trading to undergo. The US dollar started the day on 0.6163 and by the end of the trading period it had added on a little, ending the day on 0.6184. As far as the Euro was concerned, the dollar started on a rate of 0.7570 here. There was a small drop by the time the markets closed through, as it fell back to 0.7565. The dollar started the week on 0.9143 against the Swiss franc, and there was a fall here too by the time the day was over. The dollar ended it on 0.9131, giving us something to mull over as we enjoyed the festive break.
Since today is Christmas Day, no currency trading took place. This is the first of two holidays, the second being tomorrow.
The 26th is Boxing Day, so once again there was no trading today.
You may think there would be little movement in the currency markets given the fact we’ve had two days off in the middle of the week for Christmas. But nothing could be further from the truth as there were still some interesting results to share today. The dollar dropped a little ground on the British pound, falling back to close the day on 0.6180. There was a similar picture against the Euro, as the dollar dropped to 0.7538. Indeed this looked to be the general pattern as the US dollar had trouble achieving anything of note today. It ended up dropping against the Swiss franc as well, falling back to 0.9107 by the time the day was over. Would there be an improvement here tomorrow or more bad news instead?
Finally we have one more day of the week to go. But there was good news for the dollar against the British pound, as it ended the day on a better rate of 0.6197. And if we wanted more good news elsewhere, we got it against the Euro too. Here the dollar perked up to 0.7585. So the question now was whether we could achieve more of the same against the Swiss franc, if we were to replicate the pattern we’d seen elsewhere so far. And the news was good as the dollar managed to shoot back up to 0.9163. This ended up higher than it had started the week with, so it was a good result to end on. Now we have to look forward to the final push into the New Year, to see how 2013 will begin.