Posted July 17, 2012
It would be a thrilling week with plenty of ups and downs of all proportions for the US dollar against several other currencies.
When the week began the US dollar was on 0.6435 against the British pound. There was little change on day one but what change there was ended up going in favor of the dollar, as it climbed to 0.6455. The dollar started on 0.8079 against the Euro and climbed to 0.8134 by the end of day one. Let’s look at one dollar against another now and see whether the US dollar could face up to the Hong Kong dollar or not. On day one the US dollar climbed from 7.7537 to 7.7549, giving us good news to start the week with.
We saw a small change yesterday against the pound; would there be another one of similar proportions today? The answer was yes, as the dollar slipped back marginally to close the day on 0.6447. We also had another day of good news against the Euro, as the dollar reached another high of 0.8140. The Hong Kong dollar got the better of the US version today though, as the US dollar dropped back to 7.7546.
Small changes seem to be the order of the week this time around, and we had another one today as the dollar slid back a little further against the pound, falling to 0.6428 in the process. We were looking for three out of three against the Euro and we got good news here with a closing rate of 0.8156. But would we go higher still by the end of the week? Elsewhere the US dollar pulled back a little further against the Hong Kong version, falling to 7.7544 in the process.
If we were expecting another slight fall today we were very much mistaken. Instead the dollar got the better of the pound and rose to 0.6475 by the close of play. The dollar was having a pretty good week all in all as things improved still further against the Euro as well. Here it ended the day on 0.8211 – but would it close out the week in similarly strong fashion? The last couple of days have seen falls against the Hong Kong dollar but today was different as the US dollar rose to 7.7565.
Another Friday 13th beckons, but would it be an unlucky one for the currencies or was there better news in store to buck the trend? As far as the dollar-pound head to head was concerned, the dollar finished slightly lower than yesterday on 0.6462. We’d hoped the dollar had a little more in the tank to finish on a high note against the Euro, but it actually slipped ever so slightly on the final day of the week, closing on 0.8206 in the process. The US dollar also saved the best for last against the Hong Kong dollar, and it managed to grab an exchange rate of 7.7573 to close out the week on.