Posted April 25, 2016
Here we go with another look at how the US dollar would face up against the European currencies. Would it come out on top this week?
Here we go then, with an opening rate of 0.7052 for the US dollar against the British pound this week. There was a slight improvement on this when the dollar finished on 0.7056 today. But would this pattern continue through the week? We would soon find out. The US dollar began trading on 0.8862 against the euro this week, and it didn’t do well here – not today at least – as it dropped to 0.8844. The picture was similar against the Swiss franc as well. The dollar began trading on 0.9676 today, before dropping to close out the day on 0.9655.
Bad news today for the dollar after yesterday’s fair start against the pound. Instead of improving on that, it dropped to 0.6962 instead. The second drop in a row came against the euro too, as the dollar fell to 0.8816 today. Was there any sign of good news in store here at all? There certainly wasn’t anything good to celebrate against the Swiss franc, as the dollar slid back once more today, this time to 0.9628. Would this pattern continue throughout the remainder of the week as well?
The second day in a row revealed bad news again for the dollar today, as it fell again – this time to 0.6951 – against the British pound. At least the drops were relatively small thus far. We experienced another one of them against the euro today as well, as the dollar dipped to 0.8788. Would there be any good news waiting for us after this, or would we end up dropping to an even lower rate? Our third day of disappointment in a row came up against the Swiss franc too. Here, we managed to slip down to 0.9613.
The third fall in a row was noted against the British pound today, as the dollar slid back to 0.6930. This was bad news and it made us wonder whether the pound would have the final say tomorrow as well. Finally, we had some better news as far as the dollar versus the euro was concerned. By the time the day was done, we were on 0.8806 here. Better news was in store against the Swiss franc as well, when the dollar managed to climb back up to 0.9677 – slightly better than Monday’s opener had been.
Finally, the US dollar did manage to finish up in slightly better shape today, as it closed trading on 0.6955. However, this was still down on Monday’s opener. The dollar did rather better against the euro though, as it soared to 0.8878 today, therefore finishing in a better position than the one it had been in on Monday morning. One last improvement was in store too against the Swiss franc, as the dollar finished on its highest rate of the week – 0.9758.