Posted November 03, 2014
Sometimes a week of trading will start poorly before improving markedly by the time the week is over. This would be just one of those weeks – but would this pattern pan out against several different currencies throughout Europe?
We were hoping for a pretty good performance from the US dollar this week, and we’d gotten started with a rate of 0.6230 against the British pound. Things didn’t bode well though because by the end of the day we’d slipped back to 0.6207. Elsewhere the dollar started the week on 0.7899 against the euro and then dropped back to 0.7887 by Monday evening. Continuing our theme of going head-to-head with European currencies today, we started on 0.9526 against the Swiss franc, but that currency got the better of us as well. We finished up on 0.9511 at the close of play.
More bad news came the way of the US dollar today as it fell back further to 0.6182 against the British pound. Another poor performance was in store too against the euro today, as the dollar slid back to 0.7844. Would this be the pattern we’d follow all week? Another disappointment was seen against the Swiss franc, as the dollar slipped back to 0.9457 today. Could we redeem ourselves at this point?
Finally we had some better news today as the dollar rose to 0.6209 against the pound. This was still lower than the opening rate on Monday had been though, so where would we go next? We had another sigh of relief where the euro was concerned too, as the dollar finally improved. Today it went up to 0.7851 to close trading. The better picture was repeated against the Swiss franc as well, as the dollar rose to 0.9467 today.
The better news kept on coming today as the dollar went higher to close on 0.6248 against the British pound. With one day to go, could we hang onto a better rate like this? Another improvement was seen against the euro as well, as we finished up with a rate of 0.7937 – the best one so far this week. The best rise yet was also seen against the Swiss franc as the dollar finished on a healthy 0.9572 today.
The best rate of the week against the pound was saved until last as the dollar rose to finish things off on 0.6261 today. We could say the same of its standing against the euro too, because it finished on the highest rate of 0.7984 today. If we thought yesterday’s rate was good against the Swiss franc, we had another delight coming our way to close out the week too. The US dollar finished things off on 0.9635 against the franc, standing at a considerably better rate than it had started with back on Monday morning. It had turned into a pretty good week.