Posted September 06, 2016
Some weeks are inevitably better than others, but would this be one of them? Would the US dollar be better off at the end of the week this time?
The US dollar began the week by trading at 0.7568 against the British pound. It did well to start things off, too, rising to 0.7652 by the end of the day. The dollar had another good result against the euro as it rose from 0.8857 to 0.8952 – quite a rise to start the week on. Elsewhere in Europe, the Swiss franc also came up against the dollar. The US currency began trading on 0.9683 here, before rising to 0.9791 on Monday night.
The good news seen yesterday was soon forgotten as the dollar slipped against the pound today, dropping back to 0.7626 as a result. Was this the start of a slide that would last longer than a day? There was at least more good news against the euro, as the dollar increased its position to 0.8954 today – if only slightly better than the previous day’s closing rate. The dollar was also doing well against the Swiss franc, as it pushed ahead once more today, closing things out on 0.9805 in this instance.
Another drop was seen against the pound today, as the dollar fell further to 0.7618. Would this be something that would continue throughout the final two days of trading this week? Another encouraging result was seen against the euro, however, as the dollar rose to 0.8983. However, this would be the best it could do for the entire week. A third improvement in a row was recorded against the Swiss franc, as the dollar closed higher still on 0.9842. How much longer could it keep this up for?
If we were hoping for better news against the pound by now, we were left waiting longer today as we fell back in value once again. The dollar was down to 0.7540 by the close of play today, with just one day left to try and do something about it. The new month began with a drop against the euro, as the dollar fell to 0.8971. At least the drop was a minor one. Another improvement was also seen against the franc today, but the rate of improvement of the dollar versus the Swiss currency had stalled a little on 0.9849.
A final drop was in store for the US dollar today, as the pound fought it once again, pushing it down to close on 0.7527. Another drop was also recorded against the euro, at 0.8934 today. This was however better than the dollar had begun on in this part of Europe, so that was good news at least. Finally, after four good days, the US dollar lost some ground against the Swiss currency. It finished up with a rate of 0.9790 today, but this was better than its opening rate had been, so it was all good in the end.