Posted July 11, 2016
Last week saw some losses for the US dollar amid a mixed bag of results. The question now was whether we would have similar losses here, or whether the US dollar would be able to pick up the slack.
The US dollar was making the most of the Brexit vote’s effect on the British pound this week. It rose from its opening rate of 0.7528 to finish on 0.7533 today. Would this be the first of several rises this week? We didn’t have a rise against the euro though – instead we fell back from 0.8980 to 0.8978 today. How would this pan out into the rest of the week? Finally, we have one more currency to look at, which this time is the Swiss franc. The dollar did well here to start the week, rising from 0.9730 to 0.9731 today.
We asked a question of the US dollar yesterday, and it was answered in a positive manner today. The dollar rose again, this time to 0.7625, against the British pound. We had yet another drop against the euro though, which took us to 0.8971 today. After yesterday’s good news, the dollar fell to 0.9722 against the Swiss franc.
More of the same came against the pound today, with another rise for the dollar that took it to 0.7706. Finally, we did at last have some good news as far as the dollar against the euro was concerned. This meant the dollar pushed ahead to close on 0.9034 today – quite a significant rise all in all. Back to good news against the Swiss franc as well, as the dollar rose to 0.9775 today.
Finally, it had to happen – a drop against the British pound. This meant the dollar finished the day on 0.7679. We also dropped back against the euro after yesterday’s rise, but it was minimized at least, as the dollar finished on 0.9025 today. This week was turning out to be a rollercoaster week against the Swiss franc with its rises and falls, and today we had another dip. The dollar dropped to 0.9765 today.
We did manage to add on another rise to finish the week as far as the dollar versus the British pound was concerned. We got the outcome to 0.7700 even today, which was a good result on the week as a whole. Things ended on a good note against the euro too, as the dollar put in a final performance this week that saw it close on 0.9033 today. The dollar did leave the best for last against the Swiss franc though, which meant the currency could finish off on 0.9805 this time around. Whether or not the dollar would do reasonably well next week too would remain to be seen. But at least there had been a mix of good results to enjoy this time around.