Posted January 04, 2017
This would be a week that started with worries over its position against other currencies, and finished with some surprises in store.
The week got started with the US dollar standing at 0.7949 against the British pound. We didn’t get a great start though, as the dollar soon fell to 0.7918 today. Was this the sign of bad things to come? We didn’t get a great start against the euro either. The dollar began trading on 0.9470 before dropping to 0.9437 today. We had another poor result against the Swiss franc too, as the dollar fell from the opening rate of 1.0186 to 1.0166 today.
Another drop occurred for the dollar today against the pound, which had gotten off to a great start. This meant the dollar finished the day on 0.7868. How much longer would this pattern last for? We had the same again when we went up against the euro. Here, we dropped to 0.9425 by the time trading ended for the day, so where would the US dollar go from here? We were wondering the same thing as we contended with yet another fall against the Swiss franc as well, dropping to 1.0124 in the process.
Finally, we had a good result today as the dollar edged ahead to 0.7888 against the pound. Could it keep this up throughout the remaining two days of the week? We’d soon find out. More bad news came against the euro though, as the US dollar fell further to close things out on 0.9394. We’d had two days of falls against the Swiss franc, but things worsened today as we fell back to 1.0096.
Today was the day we’d see a huge jump in the right direction for the dollar versus the pound. It managed to climb by more than 1.7% to reach a closing rate of 0.8023 today. How much could it achieve tomorrow, on the final day of the week? Finally, we achieved a good result against the euro, as the dollar managed to edge ahead to 0.9597. This was quite a rise from yesterday’s closing rate, but where would that leave us for tomorrow’s final trading day? The same happened against the Swiss franc too, as we rose to 1.0301 today.
We were hoping for another improvement for the dollar today and we got it against the pound, at least. We managed to rise to 0.8036 to close out the week on the highest rate yet, which was great news. How did we do elsewhere? Well, we dropped once again where the euro was concerned, but our good result yesterday tempered the bad news. We finished on 0.9579 which meant we were still up when compared to the starting rate for the week. The exact same pattern was seen against the Swiss franc as well, where we finished on 1.0298 this week.