Posted October 12, 2016
This week turned out to be a real mix of results. In the end, though, some of the best results came later on in the week, and that’s never a bad thing. The US dollar certainly managed to make a good performance of it, as you’ll see right now.
So the week started well at least, with the US dollar climbing from 0.7707 to 0.7733 against the British pound. The big question was whether that would or could continue from this moment on. Next up, it’s time to see if the dollar could improve against the euro this week. It certainly didn’t manage it today, going from its opening rate of 0.8917 to 0.8879 all told. There was bad news to begin the week against the Swiss franc as well, when the dollar started on 0.9708 and slid down to 0.9683 today.
After yesterday’s encouraging start, we soon had a disappointment to contend with. Today, the dollar slipped back to 0.7701 against the pound. Did this point to more disappointments to come? We had better news against the euro though, as the dollar pushed ahead to close out on 0.8912 today. The same could be said against the Swiss franc, where the dollar improved its position to 0.9696.
We wondered whether there was more bad news to come, and there was today against the pound. The dollar ended up sliding to 0.7680 today. Would it slide further still? We had a slight fall against the euro as well, but it was at least fairly minor, sending the dollar down to 0.8908 this time around. Another piece of good news came the way of the dollar against the Swiss franc though, as the dollar increased to 0.9702.
The falls slowed down today, leading to a drop in value for the dollar to 0.7676 against the pound. What was in store for the final day of the week? We had a slight improvement against the euro, in a week that was unpredictable against this particular currency. This took the dollar to a closing rate of 0.8911 today, with just one more day to go. After a couple of good days against the Swiss franc, things looked down today as the dollar slipped back to 0.9692 instead.
Finally, we got back to some better news today. The US dollar edged up to close out on 0.7714 against the pound, which was slightly better than it had started the week on, surprisingly. We finished on 0.8959 against the euro, which was also slightly better than we’d seen at the start of Monday’s trading. It was an odd week, but at least we came out on the right side of it. The same could be said against the Swiss franc as well, as the dollar finished up with the best rate so far, on 0.9744 today. As the week ended, so did the month – and it wasn’t in too bad a shape either.