Posted July 25, 2016
Here we are then with a brand new week of trading for the US dollar. How would it fare this time around on the markets?
As the new week began, the US dollar started on 0.7483 against the British pound. The consequences of Brexit were still becoming known at this point, so it’s not surprising that the dollar was able to capitalize and rise to 0.7542 by the close of play on day one this week. The dollar had another good start against the euro too, as it rose from 0.8986 to 0.9047 today. We saw more of the same against the Swiss franc as well. Here, the dollar began trading on 0.9794 before moving up to 0.9833.
More good news came the way of the US dollar today, as it rose for a second time against the British pound, rising to 0.7607 by the day’s end. And we had more of the same against the euro when the dollar pushed ahead to 0.9062 here. A third good result was notched up against the Swiss franc as well. The US dollar managed to edge ahead by a smaller degree than yesterday, but it still ended up higher and better off on 0.9856.
After two encouraging days, it came as a surprise to see the dollar drop to 0.7591 against the pound today. It was however only a small drop. There was better news where the euro was concerned though, as the dollar pushed up to a better rate of 0.9080 today. The good news continued against the Swiss franc at least, when the dollar put in another good performance to close trading on 0.9881.
Yesterday’s small drop was made bigger by adding on another one today, taking the dollar down to 0.7589 as a result. With one day to go this week, what would happen on the final day of trading? We were soon asking the same against the euro too, because today we experienced our first drop of the week as the dollar fell slightly to 0.9078. Finally, today was the day the dollar had its first drop against the Swiss franc too. It was bound to happen eventually, and when it did the dollar fell to 0.9870. This was still significantly higher than it had been on Monday morning.
The question we asked of the dollar yesterday was answered positively today against the pound. The dollar edged ahead to 0.7636, so we were able to say it was a positive week all in all. There was also a final slight increase against the euro, when the dollar pushed up slightly to 0.9079. The final rate against the Swiss franc was lower than we had hoped for though. Here, the dollar fell to a closing rate of 0.9860 – but as was the case yesterday, it was still better than it had been when the week began. All in all, then, the dollar didn’t have a bad week.