Posted April 07, 2017
This week would not be a good one. The only question was how bad it would become as the week went on. We have the answers.
It’s always good to start with an encouraging result, but the dollar couldn’t manage that against the British pound this week. Instead, it dropped from 0.8090 to 0.8072 today. So, could it do better against the euro? Unfortunately, the answer was proven to be in the negative, as the dollar opened on 0.9313 before dropping to 0.9300 today. We have better news against the Swiss franc though, because the dollar started trading on 0.9963 here before rising to 0.9970 today.
After yesterday’s disappointing start against the pound, the dollar had to undergo more of the same today. It ended up on 0.8031 after suffering two poor days so far. More of the same came against the euro as well, because the US dollar fell to 0.9257 here, experiencing a bigger loss than it had endured on Monday. We also had bad news against the Swiss currency, even after yesterday’s good start. We fell back to 0.9951 here.
There was another drop seen against the pound today, but at least the drop was as small as it could be. This took the dollar to 0.8030 from the 0.8031 exchange rate seen yesterday. The same could be said of the US dollar versus the euro, too, as the dollar dropped to 0.9253 here. What would happen over the final two days of the week? Another fall was noted against the Swiss franc, where the dollar fell to 0.9913 today.
Disappointment was becoming a regular thing this week for the US dollar. Today was the day it fell further against the pound, hitting 0.7998 and reaching a new low as a result. There was a glimmer of hope against the euro, though, as the dollar managed to hit a better rate of 0.9271 today. Could we hope for better news tomorrow as well? A similar sliver of hope appeared against the Swiss franc, as the dollar improved to 0.9920 today.
Finally, we had better news against the pound today, as the dollar rose to 0.8014. This improved its standing but it didn’t regain all the losses it had experienced over the week. We may have hoped for something better against the euro, but we didn’t get it. Instead, the dollar hit 0.9254 for the closing rate, which was almost – but not quite – the lowest rate for the week. And more bad news was in store against the Swiss currency, as this too got the better of the dollar, sending it down to 0.9919 to close trading on a disappointing week. This was lower than the opening rate had been against this European currency as well, so clearly things were far from impressive here. What would next week have in store?