Posted February 27, 2013
Here we are again, checking out how the US dollar was performing against a raft of European currencies. There would be ups and downs to come, but would the US dollar manage to come out on top or would it struggle to achieve the results it wanted?
The opening rate for the US dollar against the British pound this week was 0.6457. There was little change on day one and unfortunately the change we did see was in favor of the pound. The dollar slipped back to 0.6455. Against the Euro, the dollar started the week on 0.7504 and dropped back to 0.7489 on day one. When it came to the Swiss franc, the US dollar managed a small increase to start the week, rising from 0.9233 to 0.9236 as a result.
There was better news for the US dollar today as it fought back against the pound and closed the day on 0.6465. It also did a little better against the Euro, although it only added on 0.0002 in the process. Yesterday’s small increase against the Swiss franc was pretty much replicated today, as it enjoyed another small rise, bringing it up to 0.9238 in the process.
After yesterday’s good news today got even better as the dollar got some rhythm going and managed to perk up, finishing on 0.6531 as a result. There was a drop against the Euro though, as the dollar slid back to 0.7479. We were feeling a little confident against the Swiss franc but that didn’t last long, as the US dollar slipped to close out the day on 0.9234. At least it was only a small reduction.
The overall trend was definitely on the up now for the US dollar, as it beat the pound again, achieving a closing rate of 0.6553 on the penultimate day of the week. The up and down start to the week against the Euro was looking up today though, as the dollar climbed to an impressive 0.7583. We saw a similar picture against the Swiss franc as well, because the US dollar managed to close out today on an impressive 0.9320. Could it hang onto this rate to finish the week?
Perhaps we were expecting another good result to round off the week against the British pound but unfortunately we didn’t get it. However the dollar did manage to finish on 0.6537, which was better than the opening rate we’d seen on Monday. Finally the dollar stalled on 0.7583 against the Euro today, which was still better than it had started with. The last good result for the week appeared to have been seen already though, as the dollar fell back to close on 0.9306 against the Swiss franc. So it had been a mixed week all in all, with some good results and some struggles for the dollar.