Posted November 25, 2014
Some weeks look to be going one way only, but then you take a look at the final rate on Friday night and change your mind. This would be one of those weeks for the US dollar, in some areas at least.
As the week began the US dollar was worth 0.6387 against the British pound. We managed to improve this on day one as we edged up a little to 0.6393. Against the euro we started on 0.8041 and then fell to 0.8002 by the close of play, so things didn’t get off to the best start here. We began in a similar fashion against the Swiss franc. Here we had an opening rate of 0.9661 and soon fell to close Monday night on 0.9613.
After yesterday’s great start the dollar slipped back again today, although not as far back as the starting position for the week. Instead it stalled at 0.6388 for the day, losing most of the gains it made yesterday. We weren’t destined to climb against the euro either – not today anyway – since we fell back a little further to 0.7991 today. Another fall was on the way against the Swiss franc too, so this clearly wasn’t a good week all in all. Here we slipped back to 0.9599.
Disappointing news came today as the dollar slid back to 0.6379 against the British pound. Could this be the start of a slow slide down for the second half of the week? It wasn’t a good day against the euro either as the dollar slipped back to 0.7977 today. Another drop was in store against the Swiss franc too as a pattern of sorts started to make itself known. Here we ended up with a closing rate of 0.9584 today.
Another drop came our way today, so we ended up with a closing rate of 0.6371 against the pound. Could this mean we would end lower for the week than we’d started at? A series of falls were definitely on the cards this week as far as the situation against the euro was concerned. Today the dollar ended up finishing lower still on 0.7975. Could we rectify this with just one day to go? We were thinking the same when we took a closer look at the rate against the Swiss franc today, which also slid further down to 0.9581.
Our prediction yesterday came true today unfortunately. The dollar was left on 0.6376 against the British pound, so we did finish lower than we’d started back on Monday morning. There was unbelievably good news against the euro though, as the dollar managed to soar to close on 0.8050 today. This was the first rise of the week and it took us beyond the opening rate of 0.8041 as well, so this was a surprise – and a pleasant one too for sure. We had the exact same result against the Swiss franc too – leaving the best until last. Here we ended up on 0.9679, which again was higher than Monday’s opening rate.