Posted September 15, 2014
Some weeks don’t produce a striking pattern throughout currency trading. This would be one of those weeks, although there were definitely some interesting points to note throughout.
The dollar certainly started well this week, rising to 0.6197 from the opening rate of 0.6136 today against the British pound. Could this be the start of something big once more? The US dollar managed the slightest of improvements against the euro too, rising from 0.77232 to close out today on 0.77238 instead. We began on 0.9317 against the Swiss franc today, the third of our European currencies to look at. The dollar rose ever so slightly to close on 0.9321 today.
We had more good news for the dollar against the pound today, as it rose further to 0.6204. Not as big a rise as yesterday but still very well received. There was a better result against the euro though as the dollar climbed higher to 0.7750. Would this be the start of a better week against the single European currency? The dollar certainly had a better result against the Swiss franc, rising to 0.9347 today.
The change would surely come at some point this week and it came today. The dollar finally fell slightly against the pound, closing out the midweek point at 0.6197. After yesterday’s thoughts against the euro we had some bad news today. The dollar dropped back to 0.7734 today, leading us to wonder if this was a blip or whether the rest of the week would see further falls. We saw a similar picture against the Swiss franc after a good start to the week; today the dollar fell back to close on 0.9337.
Another drop was in store for the US dollar today as the British pound got the better of it again. This time it led to a closing rate of 0.6155. There was a ‘blink and you miss it’ change against the euro today; while the dollar got the better result it only climbed from 0.7734 to 0.7735. We did see a better and bigger climb against the Swiss franc though, as the dollar managed to get the better of it and close on 0.9359, setting us up for a potentially good Friday.
We hoped the US dollar would be able to start fighting back again today and it managed to do just that. It only rose slightly against the pound – to 0.6160 – but it was better than nothing. We had a drop against the euro to close the week though, although fortunately it was only a small one that took the dollar down to 0.7733. We didn’t get a good finish against the Swiss franc either, closing instead on 0.9348. This was better than Monday’s opening rate but after yesterday we had hoped for more. Maybe we’ll get a better overall picture next week instead.