Posted March 05, 2014
Sometimes the US dollar sweeps the board and achieves a wealth of good results all round. At other times it suffers. Perhaps this week would sit neatly between the two? There is only one way to find out.
The first figure for the week for the US dollar was an exchange rate of 0.5984 against the British pound. Although we hoped for a good start we actually slid back to 0.5977 on day one – a disappointing start. Elsewhere it launched into the week on 0.7295 against the Euro, before improving a little to 0.7299. There was another reasonable result against the Swiss franc, as the dollar improved from 0.8915 to 0.8921. All in all this was a reasonable start to the week.
If we were disappointed yesterday we were soon feeling pretty good with an increase to 0.5995 over the pound today. The opposite was true against the Euro with a drop to 0.7282 on the cards instead. There was another drop in store as well against the Swiss franc, which saw the dollar close out the day on 0.8900. The day was almost a polar opposite to the previous day.
Another piece of good news came our way today as the dollar managed to edge up slightly further to close on 0.6002. This was a good sign but we still had two days to go. What could we achieve there? The story was completely different against the Euro, with the dollar falling further to 0.7275 instead. We were hoping for a raise against the Swiss franc today but instead we got a fall – one that sent us down to 0.8886.
Perhaps predictably we saw a drop against the pound today. The dollar slipped a little to close on 0.5997. However we did see some good news against the Euro as the American currency finally picked up to finish on 0.7296. We may have dropped against the Swiss franc yesterday but today we picked things up again and crept up to 0.8903 instead. The week was turning into a real mix of good and bad results, with no real discernible pattern to be had among them.
Another small drop was in store to close out the week this time around. By the end of the day the dollar had finished on 0.5995, still a bit higher than it had started on against the British pound. We couldn’t quite maintain yesterday’s brilliant finish against the Euro, but the dollar did at least manage to minimize its losses. It slid back marginally to 0.7295 to finish the week. There was more bad news on the way against the Swiss franc though, because the dollar couldn’t maintain the slight improvements it had made here and there. Instead it finished up on 0.8896 for the week. It had been a challenging week all in all for the US dollar.