Posted September 10, 2013
It’s always interesting to see how the dollar fares against the European currencies, and this is what we are about to focus on this time around. Will it get the better of the pound, the Euro or the Swiss franc?
As the week began the US dollar was standing at 0.6432 against the British pound. This dropped a little on day one, leaving the dollar slightly lower on 0.6425. There was a similar result against the Euro too, as the dollar fell from 0.7487 to 0.7484. Let’s see now whether the dollar could do well against another European currency, as we explore the results seen against the Swiss franc. The opening rate was 0.9253 and this dropped disappointingly on day one, falling to 0.9244.
After yesterday’s drop against the British pound we were pleased to see the dollar rise to close out the day on 0.6454 today. Once again the pattern was repeated against the Euro as the dollar improved to 0.7497. The dollar slid against the Swiss franc though, as it fell by a small amount to close on 0.9216.
We had more good news for the dollar today as it managed to get in another good result against the pound, rising to 0.6467 in the process. But we didn’t see this repeated against the Euro because the dollar fell back to close on 0.7492. Another slide was on the way against the Swiss franc however, as the dollar fell back to 0.9208.
After some good results against the pound things were bound to stall eventually. It happened today as the dollar fell back to 0.6444. Once again we had the opposite effect against the Euro, as the dollar rose to finish on 0.7538. After a few dismal days against the Swiss franc, the dollar managed to do better today, rising to a healthier rate of 0.9277 in the process. Could it save the best for last and get the best rate on the last day?
We had one more result to cheer about today as the US dollar got the better of the British pound again, closing on 0.6452. We also finished strongly against the Euro, rising to 0.7555 in the process. This gave us a better result than we had started with. We were looking for a similar result against the Swiss franc too, and fortunately we managed to do just that. The best result came last with the dollar achieving a Friday closing rate of 0.9301. So it wasn’t a bad week for the US dollar by any extent, as it managed to close it out in style. Hopefully this performance will be carried on to the following week as well, at least against the European currencies we have looked at this week. Make sure you join us to figure out whether this is the case.