Posted January 14, 2013
Yes it would be a challenging week for sure – but which currencies would find it most challenging? Would the US dollar be in for a tough week against all these other currencies around the world?
So the week began with the US dollar bringing in a rate of 0.6242 against the British pound. By the end of day one this had dropped slightly to 0.6225. Maybe things would look a little more promising against the Euro. Here the dollar began the week on 0.7685 but dropped to 0.7669 by the end of the day. Let’s see whether there was better news against another European currency though – this time the Swiss franc. Here the dollar disappointingly went from 0.9292 to 0.9269 on day one.
After yesterday’s drop against the pound, we hoped the dollar would perk up a little today. Not so, although it did stem the losses, dropping to 0.6224 in the process. There was another loss against the Euro today too, as the dollar fell to 0.7641. So in this sense it did not come as a surprise to learn the dollar also had a rough time against the Swiss franc, as it went down further to reach 0.9240.
There was another drop in store for the dollar today, as the pound got the better of it once more. The dollar ended the day on 0.6242 as a result. The currency did at least buck the worrying trend against the Euro though, perking up to 0.7659 by the end of the day. A similar picture was seen against the Swiss franc, which lost out and saw the dollar rise to 0.9259 as a result.
If we had a theme at all this week, it was one of a slow loss against the pound. Today was no different, as the dollar fell further to 0.6231. If we got excited at the dollar’s better performance against the Euro yesterday, the excitement was taken away today when it fell back to 0.7626. And perhaps not surprisingly the dollar was also back in trouble with the Swiss franc, where it ended the day on 0.9230.
Perhaps predictably the week ended on a poor note for the US dollar. The British pound was simply too strong this week, sending the dollar down further to 0.6201 by the end of the day. And finally – and perhaps predictably – the dollar also fell against the Euro on the last day of the week. Here it dropped to 0.7533. The last exchange rate we have to check is for the dollar versus the Swiss franc, and again there was bad news to receive here. The dollar fell from 0.9230 to a weak 0.9158 to finish the week. Clearly it was not in best form at the moment, which meant a worrying time ahead for the next few days at least.