Posted September 11, 2012
Some weeks see the US dollar putting in a consistently good (or bad) performance. But this would not be the case this week. Instead we’d see a more up and down performance, one which left us wondering what would happen next.
So we’re into September already, and will it be a good one for the US dollar? Today it managed to get the week off to a reasonable start against the Euro, with a rise from 0.7929 to 0.7956. Staying in Europe, let’s see how the dollar did when up against the British pound. The opening rate was 0.6306 but disappointingly by the end of the day it had fallen to 0.6295. Maybe the dollar would do better against its Hong Kong counterpart, from its opening rate of 7.7556. It did indeed manage to do so, as it rose slightly to carve out a closing rate of 7.7565.
After yesterday’s good beginning against the Euro, today wasn’t so strong for the dollar. It dropped back a little to 0.7949, so at least it managed to minimize the damage. However there was a marginal rise in store against the pound, as the dollar rose to 0.6297. But then we went on to find a marginal drop against the Hong Kong dollar, taking it down to 7.7564 in the process. The difference one day can make is quite astounding, as you can see.
It seemed like this week would be punctuated by tiny increases and decreases, and today was no exception. From the closing rate of 0.7949 yesterday, the dollar crept up to 0.7950 today against the Euro. Yesterday’s rise against the pound was wiped out by a loss today, taking it down to 0.6283. At least there was better news against the Hong Kong dollar, as the US dollar pushed it to close on a stronger rate of 7.7568.
From a week of ups and downs, today proved to be a ‘down’. The dollar slid back to 0.7912 by the end of the day against the Euro. How would it end tomorrow – would there be an increase or a decrease to close out the week with? Another loss was in store against the pound too, this time taking the dollar lower to 0.6279. We’ve already seen small rises and falls taking place this week, and we’ve got another one here too. It fell slightly to 7.7566 against the Hong Kong dollar today.
After a reasonable start to the week against the Euro, the US dollar put in a disappointing performance to finish things off. By the time the week was done it finished on 0.7870. It seemed as if there was disappointment all round today too, as the dollar slid back to 0.6270. The story was borne out by another change in circumstances against the Hong Kong dollar too, as it dropped to 7.7558 to finish the week on a slightly weaker note.