Posted January 19, 2015
Some weeks do hold some surprises for assorted currencies. Where would the revelation fall this week for the US dollar?
Here we go then as the US dollar hopes to get a good week of results in place. It didn’t start well against the British pound though, falling from a week-opening rate of 0.6602 to 0.6600 today. It was a different picture against the euro though, since the dollar managed to rise from 0.8465 to 0.8471 to start the week. As for the picture against the Swiss franc, the dollar started pretty well here too. It began the week carefully, rising from 1.0166 to 1.0174.
Yesterday’s disappointing start was repeated today as the dollar fell further to 0.6592 against the British pound. Would this carry on throughout the week? The opposite trend continued against the euro though, as the dollar moved up again, this time to capture a day-ending rate of 0.8487. The dollar also had another good day against the Swiss franc, edging up more confidently and achieving a day-ending rate of 1.0193 as a result.
Another drop was seen in what was becoming a prolonged pattern against the pound today. The dollar fell to 0.6584 against the pound by the day’s end. Again this contrasted with the performance against the euro, as the dollar rose to 0.8492. The week was looking pretty good against the Swiss franc, managing to get ahead and creep up further to 1.0199 today.
Thursday brought more disappointment for the US dollar as it slid back to 0.6552 against the pound. Could it stall these losses on the last day of the week? This really was a week of contrasts against different currencies, as the dollar made it four good days out of four as far as the euro was concerned. Today it reached a new high, closing things out on 0.8541 as a result. Would it be able to do so for one more day? After three days of great performances against the Swiss franc, you would be forgiven for double-checking today’s result. The US dollar dropped like a stone and closed things out on just 0.8780 – a drop of nearly 14% over yesterday’s result. This was seen against other currencies too though, as the Swiss franc had a great day all in all.
Finally the US dollar managed to achieve a better rate today, rising to 0.6590 against the British pound. It didn’t regain all the losses it had suffered so far though. Things got better still against the beleaguered euro, as the US dollar managed the best jump of the week so far to finish today’s currency challenges on 0.8629 here. After yesterday’s drop against the Swiss franc the losses were pulled right back today to see the US dollar finish off the week on 0.8740. It was not the best finish but at least the US dollar was not alone in its suffering against this particularly vibrant currency.