Posted May 31, 2017
This week would be one filled with ups and downs. It would be hard to know where things would go next, so make sure you keep up with the momentum.
The US dollar was subjected to a poor start against the British pound this week, but at least the drop (from 0.7684 to 0.7680) was a small one. Would there be better news as the week got underway elsewhere, though? We saw a similar drop against the euro today as well, as the dollar fell from the opening 0.8945 rate to 0.8894. So, could the dollar get ahead against the Swiss franc instead? Again, the answer was no, as the dollar fell from 0.9769 to 0.9704 today.
We hoped for better news today and we got it against the pound. The dollar rose to 0.7709, rising above its opening rate from yesterday. We also got a better result against the euro, as the dollar moved ahead to claim a rate of 0.8916 today. More of the same was seen against the Swiss franc, as the dollar did well enough to finish on 0.9729 today.
There was another mild improvement for the US dollar against the pound today. It edged ahead to 0.7713, making us wonder how things would turn out tomorrow and on Friday. Better news came against the euro as well, delivering an improvement that took the dollar to 0.8934 today. How much longer could this continue for, we wondered? Better news was also seen against the Swiss currency, as the dollar improved to 0.9764 today.
Another small improvement was seen today as the US dollar moved ahead to 0.7716 against the British pound. We did not see the same good news against the euro though. Instead, we dipped back to 0.8917. At least this was not as big a loss as we might have seen. We did have another drop against the Swiss franc, too, which took the dollar back to 0.9723 today. What else might be in store for the final day of the week?
We were hoping for better news again today, and we got it against the pound. The dollar rose to 0.7787 to end the week with the biggest day-on-day increase seen. Finally, we had good news against the euro, as well, as the dollar managed to get its head in front to finish on 0.8931. This was not the best rate of the week, but it was pretty close. We also had another good result to end on against the Swiss franc, which was encouraging. We finished on 0.9724 here, but this was not an achievement. It was, perhaps, merely a chance to grab back some of our losses. This hadn’t been a great week, and when it comes to looking ahead, it is hard to tell whether next week could be another one the same.