Posted February 15, 2016
This was a real mixed week of results for the dollar to contend with. Just as we thought we were onto something good, a poor result came our way, as you’re about to see.
The US dollar was worth 0.6871 against the British pound as the week got started. This improved to 0.6957 by the end of today, so things had at least got going in the right direction. A similar picture could be seen against the euro too, as the dollar managed to creep up to 0.9008 from the starting rate of 0.8926. Our third European currency to look at is the Swiss franc, and the dollar started promisingly here as well. It climbed to 0.9954 after starting the day on 0.9909.
A small drop was in store against the pound today, as the dollar fell to 0.6937. Again, the pattern was replicated against the euro as the dollar lost some ground and finished up on 0.8899 today. Would this continue throughout the rest of the week? No such good news was seen against the Swiss franc today though, as the dollar dropped back to 0.9787 – quite a loss when compared to yesterday.
Monday’s good news seemed very far away for the dollar versus the pound today. It fell again, this time to 0.6869. Were we now on a slippery slope to Friday night? The same seemed to be true against the euro as well, as the dollar dropped back to 0.8883 today. More of the same disappointment came against the Swiss franc as well today, as the dollar fell further to 0.9736. Would there be any further good news here before Friday came to a close?
There was better news today as the US dollar managed to improve its standing against the British pound. This time it crept up to 0.6939 by the close of play. However, with one day still to go, there was still a lot at stake here. However, the dollar couldn’t manage a rise against the euro today. Instead, it settled down to 0.8812, making this the third daily loss in a row. The same story played out against the Swiss franc as well, as the dollar fell further to 0.9717.
As we may have suspected, the dollar was on a downward slide again today, to finish off the week. The US dollar ended up finishing on 0.6894 today. However, it was a very different picture against the euro. Here, the dollar perked up and closed things out on 0.8869 today, although this was not as good as the opening rate back on Monday morning had been. The exact same picture was seen against the Swiss franc here as well. The dollar managed to improve over yesterday’s rate, finishing on 0.9746 accordingly. However, once again, it was well down on the opening rate of the start of this week.