Posted October 27, 2014
Some weeks the US dollar really manages to put in a great performance. This week it would manage to achieve some notable rises against some European currencies.
Let’s check out how the dollar performed against a range of European currencies this week. It began on 0.6203 against the British pound but lost ground here immediately, falling back to 0.6195 today. Over to the euro now, where the dollar began the week on 0.7798. It did well here to start with, rising to 0.7829. It did equally well against the Swiss franc too, rising from the starting rate of 0.9415 to close on 0.9444.
More bad news came for the US dollar today as the pound pushed back against it once more, this time sending it back to 0.6190. However there was better news against the euro as it consolidated the good result it had achieved yesterday. Today saw the US dollar close things out on 0.7835. There was more good news against the Swiss franc as the dollar rose once more to 0.9456 today.
Finally we had better news today as the dollar rose to 0.6230 against the pound. Could it maintain this better performance? We could ask the same of it against the euro too, and here the answer was a definitive yes as it rose to 0.7878 today. A third day of good exchange rates in a row was in store for the dollar too against the Swiss franc, which today resulted in a closing rate of 0.9502. How much higher could it go this week and what could be achieved?
The question we posed yesterday was met with a positive response today, as the dollar rose against the pound once more, this time hitting 0.6238. More good news came by way of its exchange rate against the euro, as the beleaguered European currency fell again, letting the dollar rise further to 0.7893. There was clearly more good news than bad in store for the dollar this week, as it ticked off another great result against the Swiss franc today by rising to 0.9524.
We couldn’t quite maintain the performance we’d made over the past couple of days, as the dollar slipped back to close out the week on 0.6230 instead. This was still better than we’d begun the week with though. Finally the dollar ended the week on more good news against the euro, as it closed on 0.7899, just shy of achieving the 0.7900 rate that we’d been getting closer to all week. We also managed to make it five good days out of five this week against the Swiss franc, as the dollar finished up on 0.9526 today. This rounded off a week where the US dollar had performed pretty well, with one or two exceptions throughout the week. All in all it had to be good news though.