Posted January 30, 2017
Even when you see the dollar slide in the early part of the week, it still makes you wonder whether the same would happen in the remaining days. We’d soon get the answers, because that’s how this week began.
The week began with the US dollar on 0.8144 against the British pound, but while we hoped for a good start we didn’t get it. Instead, we ended up on 0.8039. Did that mean we were in for a rough week? We’d soon find out. The slide was seen against the euro as well, because the dollar fell from 0.9405 to 0.9332 here. More of the same came against the Swiss franc, where the dollar began on 1.0089 before falling to 1.0011.
Yesterday’s loss turned into a more prolonged affair against the pound, as the dollar slid further to 0.8034 today. The same pattern continued to be borne out against the euro as well. In this case, the dollar slid back to 0.9304 today, which meant yet more concerns over where the rest of the week was taking us. The pattern was repeated against the Swiss currency too, taking it lower to 0.9990 today.
The rot was clearly not going to stop just yet. Today saw the third loss in a row for the dollar against the pound, and this saw it drop to 0.7942. We did however get some good news as the dollar rose against the euro for the first time this week. It wasn’t a major rise, but it did result in the dollar heading north to 0.9308. A marginal drop was seen against the Swiss franc, as the dollar fell to 0.9989.
Finally, we’d waited days for some good news and a sliver of it came our way today. We saw the dollar rise slightly in value against the pound, settling on 0.7957 today. Could we achieve another rise to at least close the week in a good position? A bigger rise was seen today against the euro, the second rise in two days, too. We finished on 0.9345 today, and immediately wondered whether another good day was in store to close on. We also rose slightly against the Swiss franc, achieving a better rate of 0.9993 today.
Today, we had another good result to end on against the pound. We went higher to close on 0.7973. The only downside was that this was lower than the week had begun with for the dollar, so it was bad news in the end. The same picture played out against the euro too, as the dollar rose to 0.9362 but remained lower than it had been to start with. We were lower against the Swiss franc too, but at least we managed to climb back to 1.0007 today, which was much better than we’d expected.