Posted February 09, 2015
We’ve gotten used to seeing the ups and downs that are commonly associated with the currency markets. But would the US dollar be the currency to experience such ups and downs today or would another currency suffer more?
As the week got underway the US dollar stood at 0.6643 against the British pound. However we had a pretty encouraging start here as by the end of trading it had moved up to 0.6654. Could it begin the week just as well against the euro? Actually no, because it dropped from 0.8845 to 0.8841. At least this was a pretty small drop and nothing too concerning. The dollar managed to get underway in better fashion against the Swiss franc, rising from 0.9259 to 0.9300 today.
After yesterday’s encouraging start against the pound, we were hoping for more of the same today. We’d be disappointed though as the US dollar dropped instead, closing on 0.6627 as a result. A bigger drop was experienced against the euro too, as the dollar fell to 0.8790 today. This wasn’t looking too good for the rest of the week. We may have started well against the franc yesterday but it didn’t continue. The US dollar dropped instead, falling to 0.9252 today.
Another fall was experienced by the US dollar today as it slid back to 0.6566. Was this pattern going to continue throughout the week? We’d soon find out. We’d almost predicted another fall against the euro and we’d gotten one today for sure. The dollar slipped to 0.8736, losing a notable amount from yesterday’s result. We soon figured out we were on an up-and-down path against the Swiss franc, and today’s path was heading upward. The result was the dollar ended on 0.9262 today.
Now the dollar was below 0.66 against the British pound it seemed keen on reducing things further. Today saw it stall on 0.6557, making us question whether Monday would be the best things would get this week. Finally we had some better news against the euro though, as the dollar kicked into action and rose to 0.8764 today. Could this be the start of a comeback? We were beginning to wonder whether the same could be true of the dollar’s performance against the Swiss franc. Today it managed to rise a little more, this time to 0.9278, but could it hold out for another day?
We were right yesterday about Monday being the best the dollar could do against the pound. We closed things out on a disappointing 0.6528 today, way below the opening rate on Monday. We had another drop against the euro too as the dollar closed things out on 0.8735 today. This was 0.011 lower than the opening rate had been on Monday morning. We were hopeful to end well against the Swiss currency but it didn’t happen. Instead the dollar fell to 0.9202 – lower than Monday’s opening rate too.