Posted January 07, 2015
We don’t get to report on the changing fortunes of the US dollar and other currencies heading from one year into the next very often, of course. This is the week where we do, so let’s check out the results.
After Christmas week and a 4-day weekend, the US dollar got back down to business today. Opening the week with a rate of 0.6436 against the British pound, it didn’t get the best of starts, dropping a little to 0.6429 instead of heading up in value. Against the euro, the dollar had a better start, rising from 0.8183 to close out the day on 0.8198. Our third stop is the Swiss franc, where the news was just as good today. The opening rate here was 0.9841 for the US dollar, and this soon rose to 0.9861 by the end of the day.
The US dollar recouped some of yesterday’s losses in the markets today, but not enough to get back to where it had started the week. Instead it ended up stalling on 0.6433. The second good day in a row came up against the euro, as the dollar surged ahead to a closing rate of 0.8223 today. It soon became apparent that aside from an occasional dip against the British pound, this was turning into a positive week for the dollar. It achieved another good result against the Swiss franc today too, rising to 0.9891 in the process.
The last day of 2014 brought disappointment for the US dollar, as it dropped once more against the British pound, falling to 0.6415 in the process. How would it start the New Year once it arrived? No such disappointment was seen against the euro though. Instead the US dollar rose again, this time to close 2014 out with a rate of 0.8236. We had another reason to celebrate against the Swiss franc too, as the continually-strong US dollar did well here, rising to 0.9903 as the old year came to an end.
No trading took place on the currency markets today, as everyone enjoyed the promise of a fresh New Year.
After the disappointing results earlier in the week against the British pound, the dollar had a great day to start 2015 today. It rose to 0.6476, achieving the highest rate of the whole week. It was back to business as usual against the euro as well, as the US dollar clocked up another rise to 0.8303 today. This was as much as we could have hoped for – a strong finish to one year against the euro and a great start to the next. We had another bit of good news against the Swiss franc, taking the week-long results to 0.9982 here – another high for the US dollar. Perhaps we can hope for even better news next week as we tackle the first full week of 2015 on the currency markets.