Mixed Blessings for the US Dollar This Week
Posted January 04, 2017
Mixed blessings and mixed results too, as we would shortly find out. The US dollar could end up going either way this week.
Monday December 19 2016
The US dollar was in fine form to begin the week – at least against the British pound. It began trading on 0.8036 this morning before finishing in an improved position on 0.8073. Would this continue throughout the week or was there something else in store? The dollar started well against the euro too, rising from 0.9579 to 0.9595 to start the week in a good way. We didn’t start so well against the Swiss franc though. The dollar opened trading on 1.0298 before falling to 1.0275 today. Did this give us a clue to how the rest of the week would pan out?
Tuesday December 20 2016
After yesterday’s great start against the British pound, the dollar had more good news to share today. It rose to 0.8102 and strengthened its position in the process. Another rise came against the euro as well, sending the dollar up to 0.9648 this time around. The good news continued with the first rise of the week against the Swiss franc, to 1.0311.
Wednesday December 21 2016
We had to have some bad news against the pound eventually, and today was the day it came along. The dollar dipped to 0.8083, so did that mean we were in for some more bad news as the remainder of the week came along? The same occurred against the euro as well, sending the dollar to 0.9596 for the day’s trading. Another fall was seen against the Swiss franc too, as the dollar slid to 1.0257 today.
Thursday December 22 2016
Back to good news today, as it turned out, as the dollar rose to 0.8104 against the pound. Could it manage one more piece of good news tomorrow to close out with the best rate of the week? The same couldn’t be said against the euro, because the dollar fell to 0.9574 here. Could it finish in better condition tomorrow, or had we seen the best of it this week? We’d find out very soon. Another fall came against the Swiss franc as well, taking the dollar back to 1.0250. What would the final day before Christmas have in store for us?
Friday December 23 2016
We were hoping for the best performance from the US dollar today – at least against the British pound – and we got it. The dollar started on 0.8104 and managed to finish on 0.8163 today. That was the best rate of the entire week, so could it achieve something similar against the euro too? No, was the short answer to that question. The dollar did slow down the rate of losses, dropping to 0.9573 today, but this was still marginally lower than we’d started on against the euro for the entire week. We did manage to finish slightly better off against the Swiss franc compared to yesterday, rising to 1.0253. It was lower than we’d begun the week with though.