Posted July 10, 2017
On the whole, this could be viewed as a good week for the American currency – albeit one with a blip later in the week.
The dollar started well against the British pound at least, opening on 0.7705 this week and rising to 0.7714 by the evening. Was this a sign of good things to come? We would know in time. We had a similarly good start against the euro too, opening on 0.8762 and moving up to 0.8795 by the day’s end. This was shaping up to be a good start to the week, at least. Would it continue? Elsewhere in Europe, the dollar started trading on 0.9577 against the Swiss franc, before rising to finish the day rather higher on 0.9625.
Another good result was seen against the British pound today. The US dollar managed to improve on yesterday’s result by rising to 0.7734. Could we be hopeful of three more good results to round things off? More good news was seen against the euro as well, with a closing rate of 0.8808 today. And more of the same kept coming against the Swiss currency as well, where the dollar moved up to 0.9648 today.
Three good days in a row were confirmed against the British pound today. The dollar closed out trading on 0.7744, reaching the highest point of the week so far. The same was seen against the euro, where the dollar moved up to a healthy 0.8826 today. There was yet another rise seen against the Swiss franc as well, so things were clearly going well. The dollar managed to edge up to 0.9665 here.
We had to have a drop eventually, didn’t we? Today was the day it happened, too, as the dollar fell to 0.7730 against the pound. The drop was a minor one though, and didn’t wipe out all its good work so far. We saw a drop against the euro as well, so clearly this was not the strongest of days for the US currency. Here, it slipped to 0.8783 today. And once again, we had a fall against the Swiss franc, as the dollar fell to 0.9639.
Back to good news today for the dollar against the pound, because the American currency finished on the best rate of the whole week. This was recorded as 0.7753, marking nearly a half-cent increase over the week. While the dollar had improved against the pound today, the same couldn’t be said against the euro. Instead, it slipped to 0.8762, which ironically was the same rate it had started on. Another fall was in store against the Swiss franc as well, so here we finished on 0.9624 for the week. But unlike the position against the euro, we’d managed to close on a higher rate than we’d seen on Monday morning. So all in all, the week had been a good one for the US dollar against the major currencies in Europe.