Posted April 13, 2015
Some weeks are sharp contrasts in how well or badly a currency can do. This week was shortened by Easter but we still managed to see a sharp contrast in action.
Today was Easter Monday so we would have a day’s delay before the action began once again on the currency markets.
The US dollar didn’t have the best start this week for sure. It began on 0.6455 against the British pound but slid back to 0.6717 by the end of the first day of trading. The dollar repeated the poor performance against the euro too, slipping from the opening rate of 0.9233 to 0.9219 today. The dollar got started on 0.9602 against the Swiss franc and did rather well today, bucking the trend we’d seen elsewhere. It rose slightly to 0.9622, leaving us to wonder whether we would see more of the same tomorrow.
After yesterday’s poor beginning we were disappointed to see more of the same against the pound today. The dollar reduced further in value to 0.6687. Would this be how things would progress through the entire week? We had more of the same against the euro as well. Instead of pushing back and rising in value today the dollar dropped further to finish the day on a disappointing 0.9206. We wondered whether the dollar would do better against the Swiss franc today as it had yesterday, but we were wrong. Instead it dipped back to 0.9609.
We were finally rewarded with some good news against the pound today. In fact the dollar bounced back admirably, rising to 0.6745 today and giving us hope we might actually get a good week after all. There was more of the same to celebrate with against the euro too, where the dollar rose to 0.9281. Would we get a better finish tomorrow as well though? All remained to be played for here. We were back to good news against the Swiss franc today as well. Instead of experiencing another drop we actually bounced back to 0.9696 here. With one day to go which way would the balance dip tomorrow?
If we thought yesterday’s result against the pound was pretty good, we were pleased to see more of the same today – and at a better rate too. The dollar ended up closing things out on 0.6853, which was easily better than the opening rate Tuesday morning had been. There was another big sigh of relief to come against the euro as well. Here the dollar shot up from yesterday’s closing rate of 0.9281 to 0.9460 today. Again this meant it had saved the best performance until last and achieved the best rate of the week on the last day. We had another great finish against the Swiss franc today too, rounding off a great shorter week for the US dollar. It finished on 0.9829 here, adding on well over a cent since yesterday.