Posted August 07, 2012
Sometimes every result has to be fought for – there are times when the US dollar cannot perform in outstanding fashion consistently and against all manner of other currencies. Let’s see whether it managed to come out on top this week.
As the week began the US dollar was worth 0.6356 against the British pound. We had a good start but it was only a small improvement, pushing up to 0.6368 by the end of the day. The opening figure of 0.8118 against the Euro soon got better as the dollar pushed all the way to close on 0.8165. The opening rate against the Swiss franc was 0.9750 but by the time Monday was over the dollar had improved that to 0.9807. The dollar also started on 1.0073 and finished marginally lower on 1.0041 against the Canadian dollar.
Another small improvement was recorded for the dollar today, as it went up to 0.6381 against the pound. Yesterday’s good result against the Euro was erased today as the dollar could find little to head it off, falling to 0.8140 as a result. It was a similar disappointment against the Swiss franc too, but here the loss was slightly more, as the dollar fell back to 0.9780. It continued its fall against its Canadian counterpart too, dropping to 1.0022 by the end of the day.
If anyone thought the dollar had maybe started too soon against the pound and wouldn’t be able to keep it up, they thought wrong. Today the currency went up further to 0.6403, so maybe this would turn out to be a good week all the way through. The same story couldn’t be said of the dollar versus the Euro though, as it fell back to 0.8131 today. There was another drop against the Swiss franc too, as the dollar slid to 0.9768 by the close of play. Predictably the Canadian dollar also got the better of it, pushing it back to 1.0017 in the process.
The tiniest of losses was on the cards against the pound today, as the dollar slipped just marginally from 0.6403 to 0.6402. A bigger disappointment was recorded against the Euro, as the dollar fell back to 0.8099. It seemed as if there would be no good news against the Swiss franc, because by the time today was over the dollar was lower still, coming in at 0.9739. A little good news came when the dollar rose to 1.0021 against the Canadian dollar though.
Yesterday’s slight slip was all but forgotten today as the dollar closed out the week on 0.6430 against the pound. If we wanted a good final result to finish the week against the Euro, we got what we wanted here – the currency ended the week on an impressive 0.8166. After the disappointing week we had seen against the Swiss franc, it was refreshing to at least get a reasonable finish. In fact the dollar ended up on 0.9809, which was around half a cent higher than it had originally started on. It also pushed to recoup some of its losses against the Canadian dollar, finishing the week on 1.0030 here.