Posted June 10, 2014
We know the currency market has its ups and downs but would this week have more of one than the other for the US dollar? All the answers you need are below.
Let’s get started then. The dollar opened on 0.5975 against the British pound but it didn’t do well on day one, falling to 0.5972 by the end of the day. This wasn’t too bad but it could have been better. Elsewhere the dollar opened on 0.7349 against the Euro and fell there too, dropping to 0.7347 on day one. Next we have another European currency, this time the Swiss franc. The dollar started well here, climbing from 0.8968 to 0.8973 as a result.
After yesterday’s start against the pound we should have expected more of the same today and that’s exactly what we got. Another drop happened for the dollar, falling to 0.5970 as a result. It wasn’t a good week for the dollar as it dropped to 0.7328 against the Euro today, a more significant loss than the one we’d seen yesterday. We had a drop against the Swiss franc as well, as the dollar fell back to 0.8952.
The one piece of good news we could pick out against the pound at the moment is the nature of the falls for the dollar – they were pretty small. Today was the same, falling to 0.5966. We could only hope for a better result soon. We did get one against the Euro, climbing to 0.7338 today. Would we turn things around over the course of the week? We turned things around a little today against the Swiss franc certainly, rising to 0.8955.
Today we got what we wanted – an improvement as the dollar rose to 0.5972 against the pound. It wasn’t quite back to day one but it was better. We had better news against the Euro too, this time resulting in a closing rate of 0.7370. Today did see a great result against the Swiss franc, as the dollar pushed ahead to close things out on 0.8992. Could we hold onto this rate for one more day to finish the week in style?
After yesterday’s closing rate we hoped maybe we’d have a better rate today too. Unfortunately the dollar suffered worst of all against the pound, falling to a week-long low of 0.5943 as a result. After a couple days good results we thought we were in for a good finish against the Euro. Unfortunately we dropped to 0.7330 today – lower than the opening rate had been. Today didn’t have any good news against the Swiss franc either. The dollar dropped from the high point experienced yesterday and closed out on 0.8931. So all in all it wasn’t a great week for the dollar. When it did achieve a reasonable result it lost out before the week was over.