Posted August 22, 2017
If you want good news, we have some this week, but perhaps not as much as you’d have liked. Either way, we’ve got all the details of how the US dollar fared on the markets against the European currencies this week.
The US dollar started strongly against the British pound this week. From an opening rate of 0.7704, it rose to 0.7708 today. Could it keep up a series of rises throughout the week? The dollar opened on 0.8499 against the euro, but it didn’t do as well here, instead falling to 0.8476 today. Better news was seen against the Swiss franc, as things got underway here with the dollar opening on 0.9621 against the franc and rising to 0.9682 today.
Another rise for the American dollar today, against the pound, at least. It edged up further to close on 0.7760 today. We were back to good news against the euro, too, as the dollar managed to move up to close the day on 0.8514 today. Would we continue in that way for the remainder of the week, or would we go back to the bad news of yesterday? Another piece of good news was also seen against the Swiss franc. The dollar moved ahead once again today, finishing on 0.9721 as it did so.
A third day of good news against the British pound today, as the dollar managed to improve again, taking it to 0.7770. Could we maintain this over the remainder of the week? We did well against the euro too, rising to 0.8539 today. This made us wonder whether the whole week would turn out in our favor. We were thinking along the same lines as the dollar moved on against the franc, too, pushing out the Swiss currency to end the day on 0.9740 today.
No movement against the pound today, as the dollar stayed where it was on the markets. The same applied against the euro as well, giving the dollar some breathing space this week. And it turned out that breathing space was much needed in many quarters this week, because there was disappointing news to come against the Swiss franc tomorrow, too.
We were hoping to end on a good note, but that wasn’t the case today. The US dollar slipped to a week-ending rate of 0.7767 against the pound, although this was still better than we’d seen all week. The same pattern was repeated against the euro, too, as the dollar ended on 0.8517. But again, it still represented a good result over the entire week, so we were happy to settle with that. More of the same was hoped for against the Swiss currency, but since the dollar fell to 0.9614 today, it meant the Swiss franc won out this week, albeit only by a small margin compared with what could have occurred.