Posted July 20, 2015
Major increases and decreases in currency values are fascinating to watch. This week produced just these kinds of changes. Now we can see which currency might get the better end of the deal.
As the week got started the US dollar stood at 0.6444 against the British pound. However by the end of the day the rate had dropped a little to 0.6439. Was this the start of a slow slide or would there be better news tomorrow? The dollar began the week on 0.8940 against the euro, but it did better than it had against the pound. By the end of the day it was up to 0.9050, giving us a little more encouragement than we might have expected. The news was good against the Swiss franc as well, as the dollar rose from 0.9355 to 0.9483 today.
We may have been hoping for better news today but we didn’t get it. Instead we got a lower rate of 0.6421 against the pound. A different story was unfolding against the euro though, as the dollar rose again today – this time achieving 0.9065. Yesterday may have been good against the Swiss franc but this wasn’t the case today. Instead the dollar dipped to 0.9447. How would the remainder of the week pan out?
The dollar wasn’t having the best time against the pound this week. It became clear today that we had another drop to contend with. The dollar fell to 0.6399, reaching a new low point for the week so far. But once again the news against the troubled euro was a lot better. The dollar reached 0.9083 by the close of play today. It was back to good news for the dollar versus the Swiss franc today. The dollar edged back up to 0.9482.
Finally we had some good news as the US dollar improved a little on its performance so far against the British pound. We ended up improving to 0.6424 today, but we still had one day to go. If we thought we’d had a good time so far, things were about to get better still. The dollar reached 0.9202 by the close of trading today. More good news came as the dollar increased once more against the Swiss franc, rising to 0.9576 as a result. Could it keep this up for one more day?
We were back to a loss today for the US dollar as it dipped to 0.6412 to finish the week against the British pound. We’d had a great week against the euro so far, but there was still one day to go. Unfortunately we slipped back to 0.9183 today, but luckily this was still far better than we’d started on back on Monday morning. Finally we had another rise against the Swiss franc, albeit a tiny one. The dollar finished the week far better off on a rate of 0.9579.