Posted November 27, 2017
It is never easy for any currency to maintain a good set of exchange rates throughout any week. But this week would be a tough one in parts for the US currency.
It’s never great to begin the week with a fall, but that is exactly what happened to the US dollar against the British pound today. It fell from 0.7578 to close out the day on 0.7549. The dollar began in better shape against the euro though. From an opening rate of 0.8478, it managed to improve to 0.8488 by the time the day’s trading was over. Was this something it could build on by the end of the week? We were hoping for a great start against the Swiss franc, but the dollar slipped from 0.9916 to 0.9910 instead. At least the drop was a small one.
Good news today as the dollar turned in a better performance against the pound, rising to 0.7552 as it did so. Could there be more good news in store in the coming days though? More of the same was seen against the euro as well, as the dollar moved ahead in stronger fashion today. This meant it closed on 0.8533 – a significant jump from yesterday’s closing rate. Three good results were had today, because the dollar perked up to 0.9934 against the Swiss currency as well.
Another marginal improvement was seen against the pound today. The dollar edged ahead to close on 0.7558 – still behind Monday’s opener. Was the dollar in for a rough ride and a low closing rate this week? Finally, a drop came against the euro. This meant the dollar ended today on 0.8511, losing some of the progress made yesterday and making the final two days of the week more uncertain. More bad news soon came in against the Swiss currency, which sent the dollar back to 0.9880 today.
We were almost expecting a fall against the pound today, and that is exactly what happened. The dollar fell to 0.7512, taking it further south and making it harder to regain Monday’s opening rate. Yet another fall was experienced against the euro today, taking the dollar down to 0.8440 as it occurred. More of the same came against the Swiss franc as well. The dollar was having a tough time here, and this was borne out by the dollar dropping to 0.9801 today.
One final fall was in store against the pound this week. The dollar finished on 0.7503, representing a loss of more than a half-cent against the British pound by the end of this week. The same happened with the euro as well, where the exchange rate took the dollar down to 0.8419 – the lowest rate of the whole week. Despite a small boost to take the dollar to 0.9808 against the Swiss currency today, it was not enough to give it a good finish for the week.