Posted March 30, 2015
The US dollar didn’t look to be in its toughest phase this week. Instead it had trouble going up against a raft of currencies from Europe, as we’ll see here.
The US dollar was worth 0.6732 against the pound as the week got started, but it had dropped back to 0.6706 by the close of play today. Was this the start of a bad performance by the dollar? It certainly didn’t start well against the euro either, dropping to 0.9164 from an opening rate of 0.9279 today. As far as the Swiss franc was concerned the dollar didn’t trouble it – not today anyway. Instead the dollar started on 0.9792 and dropped back to 0.9678 by the end of the day.
Marginally better news came for the dollar today, but only just – it rose from 0.670638 to 0.670685 by the end of the day. However it was more of the same – bad news – against the euro. Here it fell back to 0.9132 and it wasn’t boding well for the rest of the week either. Another drop occurred against the Swiss franc as well, taking it down to 0.9580.
After the mild improvement we saw against the pound yesterday we ended up with another drop today – this time to 0.6704. Were we in store for another couple of bad days up ahead? It certainly seemed like that could happen, and it looked doubtful the dollar could perform well against the euro either. It didn’t today, instead falling back to 0.9103 here. Another drop came to pass against the Swiss franc but at least the losses were stemmed a little today, as the dollar ended things on 0.9573.
The dollar did better today against the British pound, rising to 0.6717 in the process. This was much more promising but with one day to go anything could still happen. We got more of the same good news against the euro finally, as the dollar rose to 0.9113 today, making us feel a little more encouraged by the process of exchange rates going on. Things switched around against the Swiss franc though as we saw another loss, taking the dollar back to 0.9567 today.
Finally we ended on a good note, as the dollar rose to 0.6722 against the pound. However this was still lower than it had opened with. We saw more of the same against the euro as the dollar closed things out on 0.9211, but again this wasn’t as good as Monday’s opening rate. The pattern was once again repeated against the Swiss franc. The dollar upped things to 0.9649 but wasn’t rewarded with getting things back to the level they’d been at on Monday morning. However at least it did manage to restore some of the losses we’d experienced throughout the week. Maybe next week we can hope for something a little better throughout Europe.