Posted November 10, 2014
Some weeks have their ups and downs while others present a very different picture to us. Which way would this week go as we follow the mixed fortunes of the US dollar through the currency markets from Monday to Friday?
The dollar started on 0.6261 against the British pound last week, and promptly dropped to 0.6250 by the end of the day. Was this a bad start that would turn into an even worse week? Things looked different against the euro though, as the dollar began on 0.7984 and closed the day on 0.8004. Meanwhile the dollar started on 0.9635 against the Swiss franc and closed up here too, rising to 0.9648 by the end of the day.
Another drop was in store for the dollar today as the pound pushed it back a little further to 0.6248. There was a drop against the euro too, taking it back to 0.7991 in the process. The predictable drop was in place against the Swiss franc as well, as the US dollar slid back a little to 0.9633 today.
We had to wait for some good news but it came today as the dollar rose to 0.6284 against the pound – reaching the highest point so far. The same could be said of the dollar against the euro too, as it closed things out on 0.8012 today. Could it hang onto this rate for the last two days of the week? Today was clearly a day for improvements because we also saw the Swiss franc have a hard time against the dollar. The latter finished on 0.9649 today – again the highest rate so far.
After yesterday’s good news we weren’t too surprised to see a slight drop against the pound today. The dollar slipped back to 0.6280 instead. Predictably we had another drop against the euro too, as the dollar reversed its fortunes to close on 0.7989. And again we saw the same thing happen as the Swiss franc pushed back, sending the US dollar down to 0.9622 in the process.
The dollar had the best finish it could have hoped for today as it squared up against the pound one last time. It managed to close on 0.6321, well above any other rate it had managed to get this week. It also finished strongly against the euro, closing on 0.8069 here and again achieving the highest point last. This was clearly the theme of the week – a few rises and falls but in the end the US dollar was able to save the very best for last. It managed to push back against the Swiss franc today to close things out on 0.9715 – quite an impressive feat. So the US dollar had a pretty good week all in all, despite the few uncertain bits in the middle. Will it carry it through into a new week next time though?