Posted August 02, 2013
Some weeks are filled with ups and downs, but would this be one of them? It may well be, but the extent of the ups and downs are still to be revealed. Read on to find out how things progressed throughout the week.
As the week began the US dollar was worth 0.6553 against the British pound. It didn’t have a good day though because it finished on 0.6524. Could it achieve anything better against the Euro? It started on 0.7620 but by the time the day was over it had dropped to 0.7595. Elsewhere the dollar also had a more challenging time against the Swiss franc. The opening rate here was 0.9419 but this dropped to 0.9395 when the trading was over.
After yesterday’s disappointing start against the pound, the US dollar at least managed to stall the drop today, finishing on 0.6521 as a result. Today’s drop against the Euro was not as bad as yesterday but it was still disappointing, as the dollar fell to 0.7587. The dollar managed to buck the trend against the Swiss franc though, because it enjoyed a marginal rise here, improving to 0.9398 as a result.
The dollar again experienced a marginal drop today, falling back to 0.6512 against the British pound. Would this continue throughout the week? There was more bad news against the Euro as well, because here the dollar fell to 0.7549 by the time the day was over. By the time we moved on to the third currency – the Swiss franc – it was clear today was not the best day for the dollar. Indeed by the time today was over the dollar had slid back to 0.9352.
Today we finally had some good news against the pound, as the dollar managed to fight back and finish on 0.6542 as a result. There was a similar story against the Euro as well, where the dollar managed to up the stakes and finish on a better 0.7574 at the close of play. Once again the dollar also managed to rise against the Swiss franc by finishing the day in a better position on 0.9366.
After yesterday’s good result against the pound, the dollar was in for a disappointment today as it fell to the lowest rate for the entire week. It ended up on 0.6493 as a result. Once again the pattern was replicated elsewhere too, because the dollar fell to 0.7541 against the Euro today. To finish off the week we could practically predict the outcome against the Swiss franc, and indeed the dollar had dropped again here too, finishing on 0.9301 as a result. So it was not the best week for the US dollar, although perhaps we should be thankful the results were not as harsh as they could have been. We shall await the next batch of results with interest.