Mixed Blessings for the US Currency

Posted May 16, 2016

This would turn out to be an interesting week, with no real sign of whether the next day would be a good or a bad one. Even then, the performance of the dollar varied depending on which currency you were looking at.

 

Monday May 9 2016

Okay, so as the week got underway, the US dollar stood at 0.6900 even against the British pound. It got the better of the British currency today too, rising to 0.6932 in the process. More good news came in the shape of an increased rate against the euro, too, as the dollar rose from 0.8751 to start, and finished on 0.8775. Elsewhere in Europe the dollar started the week on 0.9687 against the Swiss franc, before improving on that to finish today on 0.9699.

Tuesday May 10 2016

We had a good start yesterday, but not such a good result today as the dollar fell back to 0.6923. No such bad luck came against the euro though, as the dollar managed to press ahead to close the day’s trading on 0.8791. We had an even stronger day than yesterday against the Swiss franc, as the dollar pushed upwards still further to 0.9739 today.

Wednesday May 11 2016

After yesterday’s drop against the pound, we were disappointed to see more of the same today for the dollar. Over the course of trading it fell a little further to 0.6920. Was this a downward slope that would last all week? Finally, the dollar did experience a drop against the euro today – the first one of the week so far. This took it back to 0.8765, although it was still ahead of the opening rate thus far. We also had a drop against the Swiss franc, which saw the dollar fall back to 0.9728.

Thursday May 12 2016

Better news today, thankfully, as the dollar rose slightly to close on 0.6926 against the pound. Could it manage another good result to finish off the week? Back to better news against the euro today, too, as the dollar pushed on and closed out on 0.8780. Would it be able to tip over into 0.88 territory to finish tomorrow on a really good note? Only time would tell. We were asking a different question against the Swiss franc, as yesterday’s bad result turned into two bad days. The dollar dropped back to 0.9713. Could we improve on this on the final day of the week – Friday 13th?

Friday May 13 2016

We’d had pretty small rises and falls so far, but with today being synonymous with bad luck, would this translate to the experience of the dollar as well? No, as it turned out – the dollar perked up to its best rate of the week against the pound, finishing on 0.6940. We asked a question about the dollar versus the euro yesterday, and today we got a positive answer. We managed to make the euro the weaker currency, and the dollar closed the week on 0.8812 as a result. Finally we did get better news against the Swiss franc, as the dollar closed up slightly on 0.9714.

 

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