Posted August 03, 2015
We are used to an up-and-down picture of peaks and troughs whenever the major currencies attempt to outdo each other on the currency markets. So… which one would come out on top this week?
If we’d hoped for a good start we were disappointed, as the US dollar fell from 0.6462 to 0.6445 against the British pound today. Maybe we could get better rates as the week went on. It had a poor start against the euro too, falling from 0.9141 to 0.9043 today. Next up there was the chance for the dollar to try and get a good start against the Swiss franc. However it didn’t happen; instead it went from 0.9609 to 0.9581.
We were hoping for better news for the dollar versus the pound today but we’d have to wait longer to get it. The dollar dipped further to 0.6416 today instead of rising. There was better news against the euro though, as the dollar managed to push ahead to 0.9070 today. We also had better news against the Swiss franc as the US dollar went from 0.9581 to 0.9668 today – quite a leap in the right direction. Could it maintain it through the second half of the week though?
The dollar was on a significant slide against the British pound so far this week. Today it reached a new low of 0.6394. Could it do anything to improve matters? We then dipped back to 0.9066 as far as our performance against the euro was concerned, so there was uncertainty over whether the pound could achieve something worthwhile here. We had a dip against the Swiss franc too, dropping to 0.9630 here.
There was a slight glimmer of hope today for the dollar as it edged up slightly to 0.6398 against the pound. Could it rise about 0.64 tomorrow? We had more good news against the euro too. The dollar managed to get further ahead to a rate of 0.9128 today. Could it manage something better tomorrow as well to finish the week in a good position? Today was better against the Swiss franc, as the dollar rose to an impressive 0.9706 today.
We had another good day today against the pound, and yes, we did go above 0.64 as well, ending on 0.6420 as a result. However while we were hoping for better news against the euro we didn’t get it. Instead the dollar slid back a little to 0.9118 today, leaving the dollar on a lower rate than it had begun the week with. Finally the dollar slid back once more against the Swiss franc. This meant it finished on 0.9633 today, slightly higher than the original starting rate for the week had been. As such it was a pretty good result and one that had led to a slightly better rate all told. What will next week bring?