Posted April 30, 2013
Some weeks bring good news and some bring bad – while others bring a mix of both. Which version would turn out to be the truth this week, and would the US dollar come out on top or not?
As the week began the US dollar started with a rate of 0.6514 against the British pound. Could it improve on this or would the pound fight back? By the end of day one the dollar had improved to 0.6568 so things were looking good to begin with. We had a similar result against the Euro, where the dollar went up from 0.7624 to 0.7670 over the course of the day. Over in Switzerland, the dollar was worth 0.9284 on Monday morning, and this improved to 0.9348 by the time the day was over.
After yesterday’s good start, the US dollar fell back a little against the British pound today. It closed on 0.6556 so it had lost some ground since yesterday evening. There was better news against the Euro though, as the dollar improved to 0.7698 by the day’s end. The good news bled through to the Swiss franc as well, as the dollar managed to up its exchange rate to 0.9406 by the time the day was done.
So to the halfway point of the week, and today the US dollar would drop a little further behind the pound, falling to 0.6554 as it did so. The dollar also slid back against the Euro – the first poor result of the week here – and finished the day on 0.7688 as a result. There was more good news against the Swiss franc though as the dollar reached 0.9458.
Although the dollar had slipped lower than the pound over the past couple days, today saw a disappointing result as the US dollar fell back to 0.6466. This looked to be a poor week for the currency, but there was still one day left to go. After yesterday’s slide against the Euro, the slide became more pronounced today. It ended up on 0.7645 by the end of trading. We saw a drop against the Swiss franc today though, as the dollar lost some ground and closed on 0.9429. Would there be improvements tomorrow as the week ended, or would the dollar be on shakier ground?
One final drop was in store for the dollar today, as it closed out the week on 0.6462 against the pound. There was at least a slightly better result against the Euro, as the dollar perked up to close out the week on 0.7692. Finally the US dollar also improved against the Swiss franc, reaching a closing rate of 0.9441 today as the week came to a close. It was a mixed bag of results but there were certainly some good ones to appreciate in among the disappointments. All in all it wasn’t a bad week.