Posted January 26, 2015
Some weeks do deliver more marked changes than others for the US dollar and other currencies. This week looked as though it would be one of those weeks, as you’ll see right here.
Here we go then with a check on how the week got underway for the US dollar. It began on 0.6590 against the British pound and it did well for starters too, rising to 0.6604 overall. The dollar began on 0.8629 against the euro today and dropped here, falling to 0.8616 by the end of the day. Would this be a week of mixed fortunes for the US dollar? A third European currency, the Swiss franc, delivered some shocks last week. Would it do the same today? The dollar began on 0.8740 and finished just a little down on that, falling to 0.8720 as a result.
After yesterday’s good start the dollar was down to 0.6595 against the pound today. Was this the beginning of a slippery slope? There was at least better news against the euro, as the dollar rose to 0.8636 today. There was another drop against the Swiss franc too, as the latter took control and pushed the dollar back to 0.8711 as a result.
The dollar actually reached its highest point yet this week against the pound to mark the midweek point, rising to 0.6616 as a result. How would it hold out throughout the rest of the week? A slight drop was seen against the euro meanwhile, taking the dollar down to 0.8625 as a result. The pattern of drops against the Swiss franc was repeated once more today, as the dollar was pushed back even further. Today it finished on a disappointing 0.8623.
Another drop was in store for the US dollar today, as it fell to 0.6579 against the British pound. This was clearly not a straightforward week for the dollar. There was another drop noted against the euro today as well, as the dollar slid back to 0.8607 with just one more day of trading to go. The falls looked to be getting bigger against the Swiss franc too, as the dollar finished on 0.8558 today. Could it get something better on the last day of the week?
The pattern we’ve seen so far meant that today should deliver another good result for the US dollar to close things out against the British pound. We actually managed to do just that, as the dollar finished on 0.6673 today. After the rises and falls against the euro this week there was a surprising rise today against the very same currency – taking the dollar to 0.8930 as a result. That really did see the best saved for last! We had a similar picture against the Swiss franc too, as the dollar managed to edge up significantly to 0.8765 today – actually finishing at a slightly higher point than it had started the week.