Posted September 19, 2017
The currency markets can be a dramatic place, and we saw that this week as the American dollar contested exchange rates with European currencies.
The week opened with the US dollar standing at 0.7567 against the British pound. In a possible sign of what was to come, the American currency dipped slightly to 0.7566 by the end of the day. The dollar opened in stronger style against the euro, though. It managed to take its opening rate of 0.8291 and push it up to 0.8335 today. Was this going to be a better pattern than the one we might see against the pound? Our third stop in Europe sees the US dollar go up against the Swiss franc. It did okay to start with, rising from 0.9456 to 0.9505 today.
We had more disappointment versus the pound today, as the dollar experienced a greater fall than it had yesterday, going down to 0.7531 as a result. More good news came against the euro though, as the dollar went up to 0.8380 today. The same could be said against the Swiss franc as well, because the dollar edged ahead to 0.9590 against the Swiss currency.
We had to wait until midweek to get some good news against the British pound. Today, the dollar rose slightly to 0.7533, but this was still lower than Monday’s opener, so there was a lot of work still to be done here. The reverse was true against the euro as the dollar had its first drop this week – taking it to 0.8347 against the European single currency. Three good results in a row was the case today against the Swiss currency, as the dollar pushed ahead once more, closing out the day on 0.9596.
Another fall marked the weakness of the dollar versus the pound today, as the American currency slid further to 0.7498. Where would it end up tomorrow, and would we have yet another fall to contend with? We didn’t have a fall against the euro today, though, instead rising to 0.8413 – considerably better than Monday’s opener. We made it four in a row against the Swiss franc, too, taking the dollar to 0.9672 and maybe the best week in a while here.
We were half-expecting another drop against the British currency, and that’s exactly what happened today. It took the dollar to 0.7359, making this the lowest exchange rate of the week. The US dollar dipped against the euro to close out the week, though, falling to 0.8359 as it did so. However, this was better than Monday’s starting rate, so the whole week saw the US dollar in better shape. Finally, we had a loss against the Swiss franc today, sending the dollar down to 0.9596. However, this was still way above Monday’s opener, so it was still a great week all told for the US dollar in this part of Europe.