Posted March 01, 2017
This week would have its fair share of ups and downs, but there were more of the former than the latter for the US dollar.
It would have been great to get a good start against the British pound, but it was not to be this week. Instead, the US dollar fell from the opening rate of 0.8048 to 0.8020. Was this a sign of things to come? We began trading on 0.9389 against the euro, and here we did better today, rising to 0.9419 to finish the opening day of trading this week. Elsewhere, we traded on 0.9987 today before reaching 1.0032… and this was achieved against another European currency, the Swiss franc.
Better news came the way of the dollar versus the pound today, as it rose to 0.8053 and surpassed the week’s opening rate as it did so. We also had some good news against the euro, rising further to cement yesterday’s good news with more, as we hit 0.9490. Better news was also seen against the Swiss franc to build on yesterday’s achievement, taking the US dollar to 1.0096 today. Could we go higher than that too?
After yesterday’s better performance, it was back to disappointment today as the dollar fell to 0.8032 against the pound. It seemed as if the British currency was pushing hard to do better this week. We kept up the good news against the euro, though, hitting a high of 0.9512 today. Things kept on improving this week, as well, because while we had seen two good days against the Swiss franc thus far, another one came our way today as the dollar hit 1.0122.
Another drop for us to contend with today, as the dollar fell further against the pound, reaching a low point of 0.8004 as it did so. Would this be as low as things would go, or was there worse news in store? Meanwhile, we had to hit a poor day against the euro eventually, and today was that day. The US dollar ended up dropping by 0.567% today, falling to 0.9458 in the process. Would we have more of the same tomorrow, or would we end up recapturing today’s loss? There was also a fall against the Swiss currency, which meant we ended up on 1.0085 today.
The lowest rate of the week between the dollar and the pound hadn’t been reached yesterday – instead, it was reached today, as it hit a disappointing 0.7965. We also had some disappointment against the euro, as we fell further to 0.9425 today. This was still better than Monday’s opener, though, so that was good. More of the same came against the Swiss franc, as the dollar fell to 1.0037. However, this was once again better than the rate we had started the week with, so we had done enough to achieve this good news to finish the week.