Posted April 02, 2012
Sometimes the changes on the currency converter are major and frequent. But this time there would be lots of smaller changes as the daily dramas of the currency markets were seen affecting the US dollar every day. Would it do well by the end of the week?
The dollar closed out the previous week against the Euro on 0.7551, but this figure dropped by 0.0019 on the first day back this week. Normally the dollar stands up a little better against the British pound, but that didn’t happen today either. It fell from 0.6315 to 0.6291 to close out the day. It also dipped below parity with the Canadian dollar, going from 1.001 at the day’s opening to 0.9960 at its close. It wasn’t the best start for the dollar versus the Swiss franc either, dropping from 0.9102 to 0.9079.
The falling US dollar fell further against the Euro today, causing a little concern as it dropped back to 0.7500 to close out the day. Was this going to be a week of freefall for the currency against the Euro on the currency converter? It certainly didn’t look too good against the British pound either, as it fell from 0.6291 to 0.6269 today. It lost a little more against the Canadian dollar too, falling to 0.9925 here. Another fall occurred against the Swiss franc, knocking another 0.0037 off the exchange rate.
A little more bad news for the dollar today as it fought against the Euro; it dropped only a small amount of ground, but it ended up closing the day on 0.7497 as a result. Would there be better news later in the week? And would there be better news against pound sterling today? The answer here at least was yes, as it climbed from 0.6269 to 0.6290. Some better news was seen elsewhere as well, as the US dollar got a rate of 0.9964 against the Canadian dollar. A tiny 0.0002 improvement was seen against the Swiss franc too.
Finally the fight back against the Euro began today, with the dollar rising a little to 0.7534 in the process. It was clearly a better day all round because the dollar improved a little against the pound too, rising to a day closing rate of 0.6297. This was clearly a week of hard fought but tiny ups and downs here and there, because the US dollar enjoyed another small improvement against its Canadian counterpart today, rising to 0.9999 in the process. We also saw a better improvement against the Swiss franc, as the dollar hit a high of 0.9080 to close out the day.
If we were hoping for a better rate against the Euro to close out the week after yesterday’s better result, we didn’t get it. The US dollar closed on a disappointing 0.7487. This seemed to be the pattern borne out elsewhere too, as the US dollar fell again when the British pound pushed it back to 0.6243. And another fall was seen that took the US dollar further away from parity against the Canadian dollar. Here it dipped down to 0.9966 again. Finally there was another dip against the Swiss franc, sending the dollar back down to 0.9018 in the process.