Posted October 15, 2012
Some weeks see more challenging circumstances than others for the US dollar. This week would prove to be a tough one, although there were promising results on some days, only to be ruined by poor performances on other days.
So the week got started with the US dollar bagging 0.7691 against the Euro. And it was the dollar that got the upper hand on Monday, rising to 0.7717 as a result. Moving on, the dollar started on 7.7530 against the Hong Kong dollar and rose slightly to 7.7539 by the end of the day. Meanwhile the dollar started off with a rate of 0.9315 against the Swiss franc, but this improved to 0.9345 by the time the day was over.
The dollar enjoyed a good time yesterday and there was another improvement today, albeit a smaller one. It saw the dollar rise to 0.7720 against the Euro. Yesterday’s gain against the Hong Kong dollar was wiped out though, as the American dollar fell back to 7.7527. There was good news in store against the Swiss franc though, as the dollar edged up further to 0.9349. So it was a mixed day today to be sure.
The onus was definitely on the dollar against the Euro this week, as the dollar rose again to 0.7758 today. The question now was whether this impetus would continue. We also wondered how the US dollar would hold up against the Hong Kong dollar throughout the week and today it dropped back again to 7.7525. However things were still looking up against the Swiss franc as the dollar improved yet again to 0.9395.
Yesterday’s question regarding the dollar and the Euro was answered in a disappointing way today as the dollar dropped back to 0.7741. It did however hold steady against the Hong Kong dollar, barely changing at all throughout the day. We were almost expecting a bad day against the Swiss franc and today proved to be that day. Yesterday the dollar closed on 0.9395 and today it closed lower on 0.9356. So this was a disappointing close for the currency.
After yesterday’s drop against the Euro we were wondering if the dollar would close out the week lower than it had been to start with. It did fall again today but it ended up higher than its starting rate, stalling on 0.7710 in the process. It felt as if yesterday’s position against the Hong Kong dollar was holding steady, but today the US dollar dropped to 7.7518 to finish the week. Another shot of bad news closed the week against the Swiss franc too, as the dollar fell to 0.9323. So there we have it – a week with a real mix of results against various currencies from across the globe.