Posted February 04, 2013
If the US dollar was looking for a good strong week this week it didn’t get it. However there were some reasonable results to pick through, and here we have provided the highlights – and the lowlights – for you to consider. There are some notable results to check out.
As the week began we saw the US dollar with a rate of 0.6283 against the British pound. However this rose marginally by the end of the day, reaching 0.6297 by the time trading was over. The US dollar started on 0.9900 against the Canadian dollar but managed to creep closer to parity by the end of the day, reaching 0.9930 as it did so. The US dollar started out on 0.9341 against the Swiss franc but the franc got the better of it today, pushing it back to 0.9322 in the process.
After yesterday’s reasonable start the dollar built on it today, rising a little further to reach 0.6305 at the end of the day. The story was the same against the Canadian dollar, as the US dollar reached 0.9943 by the end of trading. The Swiss franc was the stronger of the two today as well, pushing the dollar further down to 0.9298 by the end of the day.
The rate of increase slowed a little for the US dollar today, at least where the pound was concerned. It managed to creep up a little to 0.6306 but that was as far as it went. There was a drop against the Canadian dollar though, as the US counterpart fell back to 0.9918. And another small drop was noted against the Swiss franc as the dollar dropped to 0.9291.
There was better news still today for the dollar against the British pound, as it managed to improve still further to close out the day on 0.6321. And today would be the day the US dollar reached parity and a little more against its Canadian counterpart, reaching 1.0018 by the end of the day. It was a better day against the Swiss currency too, as the dollar perked up to 0.9301.
After the good week we have seen thus far, it probably wouldn’t be a surprise to learn the US dollar stalled a little today. It dropped a tiny amount of value against the pound but only by 0.01%, leaving it on 0.6321 to finish the week. There was some more good news against the Canadian dollar too, as the US dollar stalled on 1.0062 to close out the week. However things went the other way after yesterday’s good news against the Swiss franc. Today the dollar lost out on some more gains and instead dropped to 0.9238. So it was an interesting week from all angles, regardless of whether you were looking at the performance of the US dollar or of the European currencies we have touched on here.