Posted October 02, 2012
It’s always fascinating to see how the US dollar manages to perform against three of the biggest European currencies – the British pound, the Euro and the Swiss franc. Let’s see how well it managed to perform last time around.
When the week began the US dollar was worth 0.6166 against the British pound. There was so little difference on this first day that it remained the same – 0.6166 – with just a marginal change being seen two decimal points further down the sum. The opening rate against the Euro was 0.7636, and there was very little change here too, although what there was turned out to be positive, with an improvement to 0.7641. The dollar started the week on 0.9287 against the Swiss franc, but rose to 0.9292 on day one.
After yesterday’s virtually static experience, the dollar ended up losing ground today, dropping to 0.6155 in the process. Perhaps this would be a bad week all told, although there is still plenty of time to rectify things. More good news came to the fore with the Euro today, as the dollar pushed for bigger and better things with a rate of 0.7660 to close on. There was bad news against the Swiss franc though as it fell back to 0.9279.
We saw an improvement against the British pound today, as the dollar climbed to 0.6173 by the close of play. Perhaps this would bode well for the rest of the week. Another improvement was seen against the Euro too, as the dollar rose to finish the day on an encouraging 0.7691. After yesterday’s drop against the Swiss franc the dollar managed to get back in control today with a rise to 0.9302.
If we were hoping for another small improvement today against the pound, we certainly got it, as the dollar pushed up a little further to 0.6177. The good news continued as far as the dollar’s performance against the Euro was concerned as well, as the dollar ended the day on 0.7699. Yesterday’s good news against the Swiss franc continued in the same vein today, resulting in a better outcome of 0.9331.
After the last few days of good progress by the dollar, it was a shame to see it fall to 0.6149 today. This meant it was weaker than it was when it had started the week, so there was definitely room for improvement. Unfortunately after a great performance throughout the week against the Euro, the dollar chose today to fall back a little to 0.7699. This was still better than the opening rate though, so we should be glad of that. And finally the dollar finished the week on 0.9323 against the Swiss franc, which was an improvement on the opening rate, so it was a reasonably good outcome for the American currency all told.