Posted December 01, 2014
Does a trying week mean the US dollar is in for some bad results this week? We’ve got all the data you’ll need to get the answers.
Any improvement is a good one, and although the US dollar only went from 0.6376 to 0.6378 against the British pound today, it was still a win, albeit a small one. The dollar opened on 0.8050 against the euro meanwhile and it did well here too, rising to 0.8058 by the close of play today. Let’s check out the third exchange rate the dollar managed to get against another European currency today – this time the Swiss franc. After opening on 0.9679 it did well to improve to 0.9691 by the end of trading today. Did this bode well for the entire week though?
We had some more good news against the pound today as the dollar edged up a little further to 0.6382. Could it keep this up all week though? It didn’t keep up a good result against the euro, since it fell to 0.8048 today – lower than it had started at on Monday. The dollar may have done well against the Swiss franc yesterday (albeit in a minor way) but today there was a different pattern in store. Instead of improving further the dollar slipped a little to close on 0.9682.
We knew there was likely to be a drop eventually and we got one today. The dollar fell slightly to 0.6340 against the pound, with two more days to go until the week ended. Another drop was in store for the dollar against the euro too, taking it to 0.8016 as a result. Would we see other bad news coming throughout the week? More disappointment was due to be seen against the Swiss franc today as the dollar fell back even further to 0.9640.
Fortunately after yesterday’s loss we had another small improvement today. The dollar rose to 0.6346 as a result. Could it get one more improvement in before the weekend? It didn’t improve against the euro, since the dollar finished up on 0.8012 today – another drop and the third in a row here. Things weren’t looking too good against the Swiss franc either, as the dollar dropped further to 0.9633 by the end of today. Would this mean another drop tomorrow and a bad end to the week as a result?
The dollar did manage to do well again today, reaching 0.6371 against the pound in the process. However this didn’t quite regain the opening rate we saw on Monday. There was no such improvement against the euro though, as the dollar finished up sliding back to 0.8010 to finish the day. Finally we had another predictable loss against the Swiss franc, meaning the dollar ended up lower still on 0.9627 today. It clearly hadn’t been that good a week for the US dollar.