Posted October 12, 2016
How would things proceed for the US dollar this week? Would we have some great results to share, or would things turn out to be very different indeed?
The US dollar had a starting point of 0.7589 against the British pound today. That soon improved to give us a good opener for the week, rising to 0.7657 in this case. Where would things progress to from here? We had a good start against the euro as well, improving from 0.8907 to begin the day and finishing on 0.8956 as a result. The good news kept on coming for the dollar versus the Swiss franc as well. Here, the dollar managed to edge ahead from 0.9746 to 0.9811 today.
We wondered yesterday how the dollar would progress against the pound, and today we got our answer. It actually did pretty well, rising once again today to 0.7708. We didn’t get the same result against the euro though, as we saw a slight drop here to 0.8941 instead. Today was obviously not a good day for the dollar, because it finished up lower against the Swiss franc as well. The closing rate here turned out to be 0.9784.
We were almost expecting some bad news eventually against the pound, and today we got it. The dollar dipped back to 0.7685, so at least the drop was only marginal. We were back to good news against the euro though, as the dollar edged ahead to 0.8968 here. No such luck against the Swiss franc, as this particular currency seemed to have the edge over the dollar today, pushing it back to 0.9760 as a result.
Another fall happened against the pound today, this time taking the dollar back to 0.7645. This was still much better than Monday’s opener had been though. The question now was where it would go for the final day of the week. Better news came against the euro though, as the dollar ended up improving its standing to 0.8898 today. Where would things end up on Friday however? Another fall came against the Swiss franc, which saw the dollar stall on 0.9669 today.
We had hoped for some good news at the last minute, and we got it today. The dollar finished up on 0.7707 for the week, which was the best rate we had seen against the pound at least. Elsewhere, we had a pretty good rate to close on against the euro as well, even though it was not the best of them all. The dollar finished on 0.8917 today, which wasn’t bad at all. And finally, the dollar did at least manage to eke out an improvement against the Swiss franc, if only to 0.9708. This meant it ended up on a lower rate than it had seen on Monday morning. Not good news, but maybe things will improve next week?