Posted April 14, 2014
Some weeks are not destined to go the way of the US dollar. It certainly seemed as if this was one of them, as we explored the exchange rates between it and many other major currencies last week.
So as the week began, the US dollar started on 0.6034 against the British pound. This unfortunately dropped today to 0.6027, making us wonder if this was the start of a bad week. It didn’t start well against the Euro either, moving from a starting point of 0.7299 and ending on 0.7287. The Swiss franc also moved against the US dollar, knocking it back from 0.8930 to start to a closing rate of 0.8891. Clearly this was not a good start at all from the US dollar. The question now was whether things could carry on in the same vein or whether they would improve as the week went on. Only time will give us this answer.
We had another drop today against the British pound, knocking the dollar down to 0.5983 in the process. Was there more bad news to come? There was certainly bad news against the Euro, because the dollar lost ground here too, falling to 0.7260 to close the day. Predictably there was another drop against the Swiss franc as well. Here the dollar fell to 0.8857 before the day was out.
The US dollar clearly didn’t have the upper hand over the British pound this week, as it fell to 0.5971 today. The dollar also fell further against the Euro, ending the day on 0.7249. Would we see better news before the week was out? We certainly didn’t see a good result against the Swiss franc today either, as the dollar slid back to 0.8832.
By now we were getting used to the falls the US dollar was putting in against the British pound. Today the fall took it to 0.5965. We experienced another drop against the Euro which took us to 0.7211 before the day was out. Today was also the day we saw the dollar dip below the 0.88 mark against the Swiss franc, falling below it to 0.8783 as it did so.
Finally the US dollar managed to add on some value instead of losing it, as it finished on 0.5976 against the pound. There was no such result against the Euro though, as the exchange rate fell further to 0.7208 to close out the week. Finally we were braced for another poor result against the Swiss franc and it came as no surprise when that is exactly what we got. Here we finished the week on 0.8766 in the end. It had been a bruising week from all quarters, leaving the US dollar significantly worse off in every area than it had been when the week started. Now we must hope it will recover next week instead.