Posted June 26, 2015
This week would prove to be a difficult one for the US dollar on the currency markets. We have the results you are looking for.
Here we go then with an exchange rate of 0.6457 against the British pound as the week began. Unfortunately the dollar dipped on day one, falling to 0.6448 at the close of play. The dollar had a slightly better day against the euro though, rising from an opening rate of 0.8912 to close on 0.8914. Perhaps it could build on this throughout the coming week. Over in Switzerland the dollar began trading on 0.9330 against the Swiss franc before rising to 0.9370.
Another drop for the dollar today as the pound pushed it back to 0.6403. Would this turn into a poor week for the US dollar, at least as far as the British pound was concerned? The dollar had another rise against the euro today, heading up to 0.8916 as a result. The dollar wiped out its good start yesterday with a poor result today against the Swiss franc. Here it dropped to 0.9331 by the end of the day, only just ahead of the rate it had started on yesterday.
The question we posed yesterday looked to be answered today as the US dollar fell further against the pound, going down to 0.6356 as it did so. Would the dollar grab back any losses at all this week? We saw a loss against the euro today as well, as the US dollar finally slipped here and closed out the day on 0.8866. Another drop against the Swiss franc occurred too, as the dollar slipped back to 0.9265 today.
Another loss would be suffered by the dollar today as the pound put in yet another good performance. The dollar finished up with a rate of 0.6284 today. Over in Europe the dollar fell again when it went up against the euro, taking it down to 0.8768 as a result. What would happen on the last day of the week? This clearly wasn’t a great week for the US dollar because another loss was suffered against the Swiss franc today too. This time it dropped to 0.9173. Could it stem the tide against it on the last day of the week?
Finally the dollar actually managed to get the better of the pound today. It rose slightly over yesterday’s rate but it still finished down on the week as a whole on 0.6313. We had another good result against the euro too, as the dollar managed to rise against it to finish the week on 0.8850. This was lower than the opening rate had been back on Monday morning though. The dollar also got a slightly better result against the Swiss franc today, rising to 0.9247 in the process. Again though, it was no better than the opening rate had been back at the start of the week.