Posted March 01, 2016
This would be an interesting and somewhat unpredictable week for the US currency. It faced several European currencies and many of them were faced with surprising outcomes, as we shall see here.
Here we go then, and the US dollar seemingly started as it meant to go on – at least against the British pound. It managed to begin on 0.7003 and rose to 0.7096 today. It began in a strong manner against the euro too, rising from 0.9012 here to 0.9069 today. Would this continue for the remainder of the week too? That early surge was seen against the Swiss franc as well, as the dollar started on 0.9928 before rising to 0.9983 today. But would it hit parity?
A marginal drop was in store for the US dollar versus the pound today, as it dropped back to 0.7088. Yet this may only be a slight blip in what could be a good week. Nothing of the kind happened against the euro though, as the dollar rose further to 0.9089 today. While it was good news against the euro, nothing of the kind was true against the Swiss franc. Here, the dollar slid back to 0.9926, which was slightly lower than we’d started with yesterday.
Our theory regarding the blip yesterday turned out to be true, as the dollar soared to 0.7188 today against the pound. More good news came to the fore against the euro today, as the dollar put in another strong performance to finish on 0.9106. Better news came out against the Swiss currency too, as the dollar managed to edge up to 0.9938 today. But with two days still to go, could the dollar continue to bring in good results?
Today we had another drop in store, as the dollar slipped back to 0.7156 against the pound. With just one day to go, where would things end tomorrow? More of the same was unfortunately seen against the euro, as the dollar fell to 0.9068. Were things slipping away just at the last minute? It certainly seemed that way against the Swiss currency, as the dollar fall back to a rate of 0.9916 by the time trading was over today. With just one day remaining, could it pull back any of those losses?
Unfortunately for the dollar, it couldn’t quite make another rise against the pound today. Instead, it finished on 0.7154 – although this was better than it had started on this week. There was better news against the euro though, as the dollar closed out the week of trading on 0.9085 – better than Monday’s opener. Better news also rolled in against the Swiss franc. Here it managed to edge ahead to 0.9930 today, which was just slightly better than it had opened on a few days earlier. All in all, this had been an interesting and unpredictable week for the dollar.