Posted February 13, 2017
Some weeks are clearly more challenging than others. However, this would be a reasonably good week for the US dollar, as the exchange rates below will testify. We have certainly seen more challenging situations for the dollar.
The week got underway with the US dollar starting on a rate of 0.8007 against the British pound. It did well today, too, rising slightly to close on 0.8023. Could it improve further during the remainder of the week? The dollar started well against the euro, too, rising from 0.9310 to 0.9335 today. We made it three out of three against the Swiss franc too, as the dollar began trading on 0.9957 and rose to 0.9960 today.
Yesterday’s good result against the pound was replicated today as the dollar rose further to 0.8087. Two out of two – could we make it three of three tomorrow? Time would tell. Meanwhile, the dollar had another good day against the euro, achieving a closing rate of 0.9367 this time around. How long could it keep this up for? We’d soon find out. More good news followed against the Swiss franc, as the dollar ended the day on 0.9984 here.
Finally, we saw a drop against the pound as the US dollar slipped back to 0.7999 today. This was the lowest rate of the week so far. Things were still on the up against the euro, though. The dollar managed to increase its standing to 0.9376 here, giving it a cushion in case things went wrong later in the week. There was a drop against the Swiss franc today, however, as the dollar fell to 0.9973.
More bad news for the US dollar versus the British pound today as the dollar fell to 0.7958 – the lowest rate of the week once again. Could we rectify this by the end of tomorrow? The cushion of improvement the dollar had already put together against the euro came into play today as it slipped to 0.9352. At least this was a mild drop and not a big one. There was better news to come against the Swiss franc after yesterday’s drop, because the dollar managed to edge ahead to 0.9981 today. Could it finish the week by achieving parity once again, or would it close on a fall?
Finally, we had better news for the dollar as it closed trading against the pound by rising to 0.8024 this week. This was better than the opening rate but not as good as Tuesday’s closing amount. It also did well against the euro, achieving the best rate of the week at the last moment and closing on 0.9408 as it did so. We had the best for last against the Swiss franc as well, and yes, the dollar did achieve parity. In doing so, it closed the week on 1.0037.