Posted August 23, 2013
It was a week full of dramas and troubles for the US dollar, but this meant other world currencies didn’t do as badly. Let’s see just how bad things got for the US currency, so we can see whether the dollar can manage to turn things around.
As the week got started the US dollar stood at 0.6440 against the British pound. It managed to improve on this though, if only slightly, by pushing up to close out the day on 0.6465. As for the state of things against the Euro, the dollar started on 0.7477 and improved to 0.7530 by the close of play. Elsewhere in Europe we had the Swiss franc to contend with. Here the dollar started out on 0.9205 and shot up to close the day on 0.9282.
After yesterday’s pretty good start against the pound, the US dollar edged up by the tiniest amount today, closing on 0.6467 as a result. There was a tiny drop to 0.7524 against the Euro though, sending things in a more uncertain direction. After yesterday’s great start against the Swiss franc, the dollar edged up a tiny amount more today to close on 0.9298.
We’ve seen good news so far this week but today it looked as though things were starting to turn in a bad way. The dollar dropped back to 0.6451, leaving us wondering whether the pound would take the upper hand for the remainder of the week. The opposite was true against the Euro though, as the dollar pushed up to gain a closing rate of 0.7551. Where would things go against the Swiss franc? As it turned out the US dollar improved once again, this time to close on 0.9374, which was something of a surprise.
Yesterday’s fears seemed well founded today, because the dollar was pushed back once more by the British pound. Today it closed on 0.6417 so where would it end up tomorrow? We definitely had a seesaw result against the Euro though, because the dollar dropped back to 0.7520 today. After all the good news against the Swiss franc so far, the dollar fell back to close out the day on 0.9345 this time around.
By the time the day was over the US dollar stood at 0.6396 against the pound, so it had definitely had a weaker second half to the week. Finally we had what was perhaps a predictable loss against the Euro. The dollar closed on 0.7496 after a tough week. Unfortunately after all the good news we’d had against the Swiss franc so far, today wouldn’t produce a great closing story. Instead we ended up falling back to close things out on 0.9260. If we wanted to get a raft of good results today we didn’t get them, but things could have been a lot worse than they were.