Posted March 19, 2013
This week would turn out to have its fair share of ups and downs as the US dollar had a variety of challenges with various currencies. Would it turn out to be a challenge it could meet – or not? Let’s find out the answers here and now.
As the week began the US dollar was standing at 0.6653 against the British pound. However by the time the first day was done, this had improved to 0.6721 so the week was looking good at this stage. Things looked equally good against the Euro as well, as the dollar managed to improve from 0.7639 to 0.7695 by the day’s end. Let’s pit the wit of the US dollar against another dollar now – this time the Hong Kong dollar. Here the US dollar started on 7.7559 and finished the day slightly better off at 7.7571.
After yesterday’s great start against the British pound, today wasn’t as good. The dollar lost a small amount of ground against the pound, slipping back to 0.6713 as a result. There was a similar picture against the Euro as well, because here the dollar slid back to 0.7661. And it turned out to be three out of three as the US dollar fell slightly to close out the day on 7.7569 against the Hong Kong dollar.
We have reached the midway point and there was more bad news for the dollar today. By the time trading was over against the pound, the dollar had hit 0.6685. However there was a different picture against the Euro, where the dollar managed to improve by the day’s end, reaching 0.7703 in the process. Small changes were also seen once again where the Hong Kong dollar was concerned. Here the US dollar ended on 7.7571, so there was only a little good news to impart.
It was back up again for the dollar today because as the day ended it reached a higher level of 0.6691 against the pound. And once again it also did well against the Euro. The single currency was beaten back by the US dollar as it pushed back to 0.7729. If we wanted the US dollar to keep heading in a positive direction against the Hong Kong dollar, we got our wish here as well. Today it closed on a healthier rate of 7.7583.
After all the good work the dollar had managed to put in against the pound during the week, it slid back today and finished the week on a disappointing 0.6602. And once again we saw a similar picture against the Euro. Here the dollar finished on a disappointing 0.7641. Finally let’s see how the week ended against the Hong Kong dollar. There was a marginal difference from yesterday so while it was a loss it was only a small one – finishing on 7.7582 as a result.