Posted January 05, 2016
Things were looking up for the US dollar as the new week got underway. Let’s check out whether it did well against the European currencies.
The US dollar got underway this week with a rate of 0.6597 against the British pound. Things were immediately looking up too, as it rose to 0.6610 to close this first day of trading. Would things continue in the same vein? The dollar didn’t get as good a start against the euro though. Instead, it fell from 0.9132 to 0.9104 today. Was this the start of a slippery slope or just a weak start? Our third stop in Europe is with the Swiss franc. Here, the dollar was worth 0.9880 before dipping down to close on 0.9806.
After a good start yesterday, the dollar dropped a little today. The British pound was able to recoup the losses it experienced against the dollar, so the US currency ended up back on 0.6598 today. More bad news came against the euro though, as the dollar was pushed back to 0.9099 by the European currency. Would this be how the week as a whole would carry on? We were in for better news against the Swiss franc after a poor start yesterday, as the dollar rose to 0.9855.
Back to good news for the US dollar now, as it rose to 0.6661 against the British currency. However, there were still two trading days to go, so things could still change in a big way. Meanwhile, the dollar finally found its feet against the euro. After two poor days, it managed to edge up to 0.9146 today. It also did well against the Swiss franc, rising to 0.9900 in the process.
More good news now for the US dollar. It managed to edge up a little further against the pound, rising to 0.6702 in the process. Could it make one more good result tomorrow to close out a very good week? The dollar certainly managed to do well against the euro again today, rising to 0.9224 in the process. Would the dollar manage to achieve yet another good result tomorrow as well, to close the week on a good note? The dollar did significantly well against the Swiss franc as well, soaring to 0.9968 today. Would it do better tomorrow too?
Yesterday we were wondering whether the dollar would have enough in the tank to achieve yet another rise against the British pound today. As it turned out, the answer was a firm yes. The rise was a small one, but it was significant too. The dollar finished on 0.6705 as a result – way up on the 0.6597 it had started on. It also did well against the euro, closing things out on a healthy 0.9228. After a couple of good days against the Swiss franc, the dollar slipped today, dropping to 0.9937. However, this was still better than the opening rate had been on Monday morning.