Posted January 12, 2015
Some weeks produce some pretty intriguing results, and this week would prove to be one of them, at least where the US dollar was concerned. Let’s check out the results here.
As the new week began, the US dollar stood at 0.6476 against the British pound. It had a good start here too, as it rose to close on 0.6569 today. Did this bode well for the remainder of the week too? The dollar certainly had another piece of good news against the euro since it rose from 0.8303 to 0.8392 today. We also have more good news against the Swiss franc, as the dollar edged up from 0.9982 to 1.0084 today, so it was the best start to the week we could have seen.
The dollar had clearly gotten off to a great start this week. Today it rose again, hitting another high of 0.6582 against the pound. After yesterday’s good rise the upward trend was cut down to size today, as the dollar managed to climb only by 0.0001 to 0.8393 against the euro. A similar picture was in store against the Swiss franc, but again it was only a small loss that took things down to 1.0083.
Today would make it three out of three against the pound as the dollar climbed further to 0.6612. Would this lead to a week of consistent rises for the dollar? This was definitely turning into a great week for the dollar as it managed to get ahead of the euro as well today. As a result it closed things out on 0.8452 – quite a leap after the small increase of yesterday. There was a smaller improvement against the Swiss franc too, taking the US dollar to 1.0152 in the process.
We saw more good news against the pound today as the US dollar reached 0.6637 by the close of trading. With four great days so far, could it make it to five? More good news was in store against the euro today as well, as we saw another significant rise, this time to 0.8497. More good news came against the Swiss franc today as the dollar rose to 1.0205 once the trading day was over.
There had to be a faltering step somewhere, and for the US dollar that step came today. It didn’t make too much difference though, because a finishing rate of 0.6602 against the pound still put it in a great position. The same story was seen against the euro, but again the loss was pretty minor today when compared to all the gains seen so far this week. Here the euro finished on 0.8465, providing a reasonable finish to the week. The drop against the Swiss franc was larger, taking the dollar back to 1.0166, but the dollar was still far better off at the end of the week than it had been at the start.