Posted February 13, 2013
Some weeks produce a consistent pattern while others produce two different stories depending on which currencies you look at. Here we discover just how well the US dollar did last week, against the major currencies elsewhere in the world.
So as the week began the US dollar was on 0.6315 against the British pound. By the time the first day was done, the dollar had improved that rate to 0.6359. So let’s see whether the dollar could do well against the Euro too. Indeed it did, as it climbed from 0.7329 to 0.7378 on day one. The dollar had a good start to the week against the Swiss franc too, going from 0.9052 up to 0.9113 in the process.
After yesterday’s good news we hoped we’d have more of the same today against the British pound. Unfortunately there was a marginal drop back to 0.6352, although this wasn’t too much to worry about. There was no need to worry against the Euro either, as the dollar rose to 0.7387 by the close of play. But there wasn’t such good news against the Swiss franc today, as the dollar fell to 0.9085, losing some of the good work it had put in the previous day.
Better news was on the cards today as the dollar managed to push against the pound and regain a rate of 0.6385 in the process. And the news got better still as we moved on to the Euro, where the dollar pushed up further to 0.7398. After yesterday’s loss against the Swiss franc we were wondering whether we would see a similar result today, but luckily things went in the opposite direction. Instead of a loss we saw a gain that took the dollar up to 0.9135.
This was turning into an up and down week for the US dollar, as the pound pushed back and reduced its rate to 0.6366 as a result. The dollar also had its first dip of the week against the Euro, where it dropped back slightly from 0.7398 to 0.7382. There was further disappointing news against the Swiss franc too, as the dollar slipped back to 0.9089.
Finally we’d discover whether the dollar was able to come out on top against the British pound this week. Unfortunately the news didn’t go our way. Instead the dollar fell back to 0.6328. After yesterday’s slight fall against the Euro, it was essential to get a better result to close out the week with. And we did just that – the dollar rose to a week-long high of 0.7477. Fortunately we were able to end the week on a better note against several currencies, including the Swiss franc. Here we managed to increase the closing rate to 0.9183, which was better than any other rate we’d had so far this week. So it wasn’t a bad week all in all, although the dollar did better in some areas than others.