Posted August 07, 2017
Some weeks were always going to be better than others. But this week, it would prove challenging to find anything good to report against the European currencies, as far as the US dollar was concerned.
The US dollar opened the week on 0.7636 against the British pound, and it fell from there to close the day on 0.7625. That was far from the great start we were hoping for. Maybe we could improve as the week went on? We’d soon know the answer. We did have a better time against the euro, though, going from the opening rate of 0.8525 to 0.8527 today. This was only a small improvement, but at least it was good news. Against the Swiss franc, the dollar opened on 0.9682, before rising to 0.9686. Only a small improvement, but good news nonetheless.
More bad news today, unfortunately, as the US dollar fell once more against the British pound, dropping to 0.7571. How much further would it fall, and would there be any respite from here? We had bad news against the euro, too, wiping out yesterday’s increase and dropping to 0.8465 as a result. Bad news was also coming against the Swiss currency, as the dollar fell today to reach 0.9663 by the day’s end.
Another drop occurred against the British pound today, as the US currency fell to close on 0.7559. Not quite as bad as yesterday’s fall, but bad enough – and the third in a row, too. More bad news came in against the euro as well, today. We slipped to 0.8453, and with two days still to go, the slight increase of Monday evening looked to be a long way back now. We did however manage something more encouraging against the Swiss franc, as the dollar moved ahead to finish on 0.9687 today. Were we finally getting to grips with this currency at least?
Finally, some better news came in for the American currency. It managed to move ahead to 0.7615 today, although that was not even back to where it had begun on Monday morning. And what would Friday have in store? We had further bad news against the euro, as the dollar slid further to 0.8431 today. We suspected it would not improve tomorrow, either. More good news against the Swiss franc, though, as the dollar experienced its second good day in a row here. The result was a finishing rate of 0.9697.
As we half-expected, there was another drop for the dollar today as the pound had one final strong performance to hit it with. This meant the dollar finished on 0.7607 this time around. And again, the week ended on a bad note against the euro. Here, the dollar fell to close out the week on a disappointing 0.8426. The dollar also dropped against the Swiss currency, falling to 0.9684 to finish the week, although this was marginally up on Monday’s opening rate.