Posted July 17, 2017
We’ve explored the ups and downs of the US dollar this week, and brought you the highlights below. How good (or bad) was it?
The US dollar had a great start against the British pound, at least. Beginning on 0.7753, it rose to 0.7767 to start the week well, albeit with a marginal increase. We got the same great result to start with against the euro, too, as the dollar opened on 0.8762 before rising to 0.8781. Could we keep that up? We had a great start where the Swiss franc was concerned, too, opening on 0.9624 and increasing to 0.9666 by the day’s end.
Today’s news against the pound wasn’t as good for the dollar. It dropped to 0.7743, which meant it now had some ground to make up against the currency. The same happened with the euro as well, unfortunately – the dollar slipped to 0.8768 today, although we at least stayed ahead of the opening rate from yesterday. We did find some good news against the Swiss franc, though, because the dollar moved ahead again today to finish on 0.9679.
Better news came against the pound today, as the dollar edged up to close the day on 0.7767. What could we expect tomorrow, though? It was hardly the best performance we’d seen so far. Another fall came in against the euro, too, which meant the dollar closed the midweek trading point at 0.8734. We finally saw a drop against the Swiss currency, too, the first one of the week. This meant the dollar finished the day on 0.9631 here.
We half-expected the dollar to have problems against the pound for the remaining two days of trading, and unfortunately, that was proven to be correct. The dollar dipped again today, this time to 0.7726. Better news was seen against the euro, thankfully, where the dollar managed to push ahead to 0.8758. Would it manage to put in a better performance tomorrow to finish the week more strongly? We got a stronger day against the Swiss franc, as the dollar increased its position to finish on 0.9644 today. Would we manage to finish in an even better position to end the week, too?
We wanted to finish the week on a good note, but it didn’t happen against the British pound. Instead, we were left with an overall loss for the week, as the dollar fell to close on 0.7707. We managed another good day against the euro, but while this was true, taking us to 0.8760, this was still marginally lower than the opening rate had been on Monday morning. At least the losses were minor. Finally, we had good news against the Swiss franc today. The dollar managed to close out the trading week on 0.9681, which was better than the opening rate we’d begun with on Monday. So, all in all, there were good results, but not as many as we’d hoped for.