Posted May 09, 2016
Some weeks you do get a real mix of results. We’ve got one of those results for you right here as well.
The US dollar didn’t get the start it would have liked against the British pound, falling from 0.6842 today to a closing rate of 0.6808. At least the drop was a relatively small one. A similar drop was seen elsewhere too, as the dollar fell from 0.8769 to start the week and ended up on 0.8700 against the euro. Elsewhere in Europe, the dollar began trading on 0.9632 against the Swiss franc, before dropping to close out day one on 0.9570.
Today saw the dollar regain most of its losses from yesterday against the British pound, rising to 0.6837 in the process. No such luck was seen against the euro though, where the dollar dipped further to 0.8643. Was this the start of a pattern? We were asking the same question with regard to the Swiss franc as well, as the dollar experienced its second drop in a row. This took it to 0.9488 today, after two significant losses.
More good news today in the shape of another rise against the British pound. The dollar improved to 0.6891, and with just two days to go until the end of the week, there was every chance it could do better still. Finally, we had some good news against the euro today. The dollar improved to 0.8691, but this was still some way short of the original starting rate. We also had some good news against the Swiss franc, as the dollar edged ahead to 0.9554 – quite an improvement over yesterday’s figure. Was this the start of a recovery for the dollar, or would the remaining two days tell a different story?
A mild improvement was seen against the British pound today, as the dollar edged ahead to 0.6893. What could it achieve on the last day of the week? The dollar did better against the euro as well, building on yesterday’s rise and taking the exchange rate to 0.8742 as a result. We could answer the question we posed yesterday with a positive answer anyway, as the dollar improved further to 0.9631 today against the Swiss franc. Could we push ahead with one more good result to finish the week?
Another small improvement was snagged today, but although it was small, it took the dollar to its best rate of the week against the pound – at 0.6900. One final improvement was saved for last against the euro, and this meant the dollar closed the gap against the euro as well. It finished here on 0.8751 – not quite at the rate it had begun the week on, but not bad either. We also achieved the best rate of the week against the Swiss franc, as the dollar finished in a strong position here on 0.9687.