Posted October 13, 2015
This would not be an easy week for the US dollar. It seemed there were too many European currencies that were in a better position to try and get the better of it.
Here we go then with the hope of a good week for the US dollar. We didn’t start well though, falling from 0.6593 against the British pound to 0.6587 today. Did this mean we were in for a rough time? Up against the euro, the dollar opened trading on 0.8960 before dropping to 0.8899 today. It wasn’t shaping up to be a great week so far. We had a drop to start the week against the Swiss franc too, as the dollar started on 0.9787 before falling to 0.9734 today.
Yesterday’s loss against the pound was almost wiped out today as the dollar rose to 0.6592 by the end of trading. There was better news against the euro too, as the dollar managed to push back and close things out on 0.8909 today. Could it keep some momentum going through the rest of the week as well? Another rise was seen against the Swiss franc too. The dollar pushed up to 0.9743 – not much, but better than nothing, and better than a loss too.
Back to bad news for the dollar today unfortunately. The British pound managed to push it back to 0.6531, and with just two days to go it was by no means certain the dollar could recoup those losses. We asked a question of the dollar yesterday but the answer today turned out to be no. It fell again where the euro was concerned, dropping to 0.8876 today. It was back on the back foot against the Swiss franc too, falling to 0.9659 today.
Better news for the dollar today as it fought back to close the day on 0.6545 against the pound. Could it manage to do the same again tomorrow? The dollar seemed to be on an up-and-down path against the euro this week, and today was the day where we saw another rise. It meant the dollar finished up on 0.8885 today. The same theme of small rises continued against the Swiss franc, where the dollar rose to 0.9716.
The final exchange rate for the US dollar against the British pound this week was 0.6519. Unfortunately this was over half-a-cent lower than the opening rate had been on Monday. A similar picture was seen against the euro too, especially since the dollar lost a little more ground today. It meant the dollar finished up on 0.8801, losing around 1.5 cents over the week as a whole. Perhaps predictably the dollar would lose some value against the Swiss franc too to finish off the week. We had seen this pattern elsewhere by now, and it came into play here too, taking the dollar to 0.9610 as a result.