Posted September 23, 2013
We never expect to see a consistent pattern against any of the world’s major currencies. However, this week seems to indicate plenty of changes as far as the US dollar is concerned. Let’s take a closer look.
Let’s see how the week progressed, shall we? The US dollar started on 0.6317 against the British pound, but it fell to close today on 0.6277; not the best start we could have had. The dollar opened on 0.7521 against the Euro and fell here too, closing the day on 0.7486. Let’s stay in Europe to check out another currency – this time the Swiss franc. The US dollar opened on 0.9308 here but it fell to 0.9264 by the end of the day. Not the best start to the week in any respect.
After yesterday’s bad beginning we had better news today, as the dollar rose to 0.6287 against the pound. We saw the tiniest of improvements against the Euro too, as the dollar improved to 0.7487. A similar outcome was seen against the Swiss franc, as the dollar edged up to close out the day on 0.9265.
There was another drop in store today for the dollar, as it fell back to 0.6259 against the pound. Where would this exchange go next? Small improvements were getting more common against the Euro; we saw another one today that took the US dollar to 0.7489. However the picture wasn’t borne out against all the other currencies, because the dollar slipped to 0.9264 against the Swiss franc.
The question we posed yesterday now had an answer, as the US dollar fell further against the British pound, closing on 0.6216. We had bad news against the Euro as well, as the dollar wiped out the past two days of hard work and fell to 0.7382 instead. If we were used to tiny differences against the Swiss currency, we got something a little different today. The dollar fell further to finish trading on 0.9105 instead. This made us wonder how the final day of trading for the week would go – would it reveal good or bad news for the dollar?
Finally we had some good news to close on today, as the dollar rose to 0.6242 against the pound. Not as good as the opening rate but better than some of the rates we’d had this week. We saw a similar picture against the Euro, as the dollar rose to finish on 0.7399. We got a slightly better result against the Swiss franc too, because the dollar managed to improve to close on 0.9123. This was still way down on the opening rate we’d had on Monday morning, but at least some of the losses were clawed back. Hopefully the US dollar will be able to claw back even more next week, and give us better results to share with you. Make sure you come back to find out.