Posted November 16, 2015
There are many strong European currencies that can make difficulties appear for the US dollar. Today we can find out about some of them – and how badly the dollar would fare as a result.
The dollar got underway with a good start against the British pound today. It began trading on 0.6605 and finished up with a rate of 0.6626, giving us hope that it could be a good week. There was good news against the euro as well, as the dollar went from its opening rate of 0.9204 to 0.9279 today. Three out of three would be the case today, as the dollar rose from 0.9968 to 1.0036 against the Swiss franc too.
Yesterday may have started well, but the same couldn’t be said of the dollar versus the pound. It dipped today, closing things out on 0.6613 instead. However the dollar did manage to keep going in the right direction against the euro, as it edged up further to 0.9336. We had another good result against the Swiss franc as well, as the dollar rose further to 1.0050.
Today saw another disappointing dip for the dollar as it fell further against the pound. It finished up with a rate of 0.6588 as a result. Was this going to carry on for the entire week? We finally saw a dip against the euro as well, as the dollar fell to 0.9331 today. At least this wasn’t a major dip, although with two days left to go anything could happen yet. Once again though we did do well against the Swiss franc, taking the exchange rate to 1.0062 today.
The dollar managed to stall the losses against the British pound today, but it was still slightly lower by the day’s end, falling to 0.6585. The same picture was seen against the euro too, as the dollar fell back to 0.9323 today. Could it rectify any of this on the last trading day of the week? Finally we had a loss against the Swiss franc today, as the dollar tumbled to 1.0040. What would happen on the final day of the week, and could the dollar remain above the 1:1 level?
If we were hoping for a better result to close out the week with against the pound, it wasn’t going to happen. Instead the dollar dipped further to 0.6568, presenting the lowest rate of the entire week to finish on. More of the same bad news was clearly present against the euro too, as the dollar fell to a disappointing 0.9290 today. At least this was marginally better than its opening rate had been. The dollar dropped again where the Swiss franc was concerned, but it still remained above its opening rate for the week. This meant it had progressed from 0.9968 to open Monday’s trading and it finished on 1.0020 for the week as a whole.