Posted September 08, 2014
Here we go then with another look at how the US dollar would perform on the currency markets this week. Would it win the day with some great exchange rates?
The week began with the US dollar worth 0.6030 against the British pound. This dipped on day one, sending it back to 0.6017 in the process. Would this be the start of a negative path for the dollar? It opened on 0.7582 against the euro today but it managed to secure a good improved rate of 0.7614 by the close of play, so this looked better at least. Our third European currency to look at – the Swiss franc – started positively. The dollar moved up from 0.9145 to 0.9192 across the day.
After yesterday’s edgy start we were surprised and pleased to see a better result today. The dollar ended up rising to 0.6048 against the pound, so it was worth more than it had been at the start of play. It also rose against the euro, closing the day’s trading on 0.7624. More good news came our way via the fight against the Swiss franc too, as the dollar moved up again to 0.9204.
Another rise was in store for the dollar versus the pound today, as it settled into a good run of results. This run ended with it on 0.6072 this evening. We probably had to expect a drop against the euro at some point this week and we got one today. The dollar fell to 0.7603 by the time trading was over. Another drop occurred against the Swiss franc as well, this time taking it down to 0.9184.
Clearly the US dollar was stronger than the pound this week, as it added on more value today too. This ended with it securing an exchange rate of 0.6094 tonight. After yesterday’s fall against the euro we weren’t sure what to expect today. The good news was we saw a rise to 0.7683, adding on 0.008 across the entire day. We did see another good result against the Swiss franc also, repairing the damage from yesterday and taking the dollar to 0.9262 in the process.
We were hoping for another good result to end on against the pound and we got it today. The US dollar secured a closing rate of 0.6136, which meant it had added on more than a cent across the entire week. We had another good result to finish with against the euro too, as the dollar closed trading on 0.7723 for the week. This meant it had added on nearly a cent and a half against the single currency. We were hoping for another good finish against the Swiss franc and we got it – finishing on 0.9317 today. We had added on 0.0172 here over the course of the week, bringing us yet another good overall result.