Posted June 16, 2014
Some weeks feel as if they’re filled with mini battles everywhere you look. Maybe this would be one of them as the US dollar battled against all kinds of European currencies.
Will it be a great week for the dollar? Let’s find out. We got started on a rate of 0.5943 against the British pound and then improved on that today by closing on 0.5951. Elsewhere the dollar opened on 0.7330 against the Euro, so could it improve here as well? The answer was in the affirmative as it closed on 0.7348. The third European currency we’ll take a closer look at is the Swiss franc. The dollar opened on 0.8931 here and closed higher today on 0.8960.
There was more great news against the pound today as the dollar rose further to 0.5960. Would the entire week carry on like this? It certainly carried on against the Euro as the dollar improved a little further to 0.7381 today. It was three for three too as we tackled the Swiss franc, closing on a better rate of 0.8996.
Today we saw the first drop against the pound as the dollar slid back a little to 0.5957. There was no difference against the Euro today though, so we had a little time to wonder if the remaining couple days would bring better results or worse ones. We had another drop against the Swiss franc too though – the first one of the week against this currency. It took us back to 0.8990.
It seemed as if we’d seen all the good results we’d see this week by now, as the dollar fell again today against the pound. This time it closed on 0.5942. We achieved a little more against the Euro by rising to 0.7392. Another rise was on the way against the Swiss franc as we finished the day on 0.8999. We were as close as we could be to the 0.90 rate so could we get across the line tomorrow?
If we hoped the dollar could grab a good result to finish with we were wrong. Instead we saw the biggest drop of the week today against the pound, and this left us on 0.5895. We saw more disappointment against the Euro as well, as the dollar closed things out on 0.7388. This was still better than the opening rate had been on Monday though. Finally we may have been close to the 0.90 exchange rate yesterday but we were further away today. We closed things out by finishing on 0.8998 today. Clearly we weren’t able to achieve the rates we would have liked in every corner of Europe, but we did at least manage to achieve some good things here and there. It’s not always possible to achieve great results but you can achieve reasonable ones, even if they don’t last all week.