Posted November 05, 2010
It is time to see how two of the biggest European currencies managed against each other during September. We’re talking about the Euro of course, and the other currency is the ever present Swiss franc.
When August came to an end the Swiss franc was claiming a rate of 0.7730 against the Euro. There were only three days worth of trading to close out that first week in the month of September, and by the time they were done with we had a rate of 0.7666 on the cards instead. The first success had gone to the Euro, but we had a long way to go until the end of the month yet, and anything could and probably would happen. Things have a habit of panning out like this on the currency converter between any currency pairing.
The Swiss franc started out the following week with a marginal drop to 0.7651. It recovered well the following day however and it ended it on 0.7750. Even though it managed another increase over the next few days it still lost out on a more confident Euro. By the time the week was over the franc was back to 0.7680 against the Euro and it was down on the opening rate of the month.
The highest rate the Swiss franc achieved the following week was 0.7745, but unfortunately that happened on the Tuesday. It left the way clear for the Euro to do its worst and achieve some better rates against the franc for the end of the week. It eventually closed on 0.7570, giving the Swiss franc plenty to think about as the month wore on.
We never quite know what will happen next with any currency pairing in this situation. After all world events and various other occurrences can happen to upset the apple cart, and it could happen in any kind of situation at all. So would the Euro end up upsetting the Swiss franc, or would it be the other way around?
As the Swiss franc moved up to 0.7598 and then to 0.7601 on the first two days of the subsequent week, it looked as though the Euro would be the one to be put out of joint. But there was still some toing and froing over the next few days, a tussle that resulted in a week ending rate of 0.7597 for the franc. We were getting closer to the end of the month now and it could be that the franc could hold on and produce just the right result at the right time.
As it turned out though, there was very little movement either way during those last few days. The Swiss franc finished the month on 0.7526 and unfortunately that left the Euro better off out of the two of them, when compared to the opening figure for the month.
Perhaps next month the Swiss franc will perform better throughout the entire month. We can only hope it does.