Posted June 04, 2015
Some weeks see the currency markets issue tougher challenges than others. This week looked to have some tougher challenges for the US dollar than we might have expected.
Here we go then – and as the US dollar got started on the new week it began on 0.6393 against the British pound. It got a great start too as by the close of play it improved to 0.6502. The second European currency in our midst – the euro – also had a tough start against the dollar. The US dollar began on 0.8957 but soared to an impressive 0.9109 by the end of the day. As far as the Swiss franc was concerned the dollar was definitely in charge today. It rose from 0.9330 to 0.9427 to begin the week.
After yesterday’s encouraging start the dollar dropped slightly against the pound today. This left it on 0.6494 by the close of play. More good news was in store against the euro though, as the dollar rose to 0.9152 here. Could it continue this throughout the week? Another good day was in store against the Swiss franc too as the dollar pushed ahead to close on 0.9473 today.
Back to good news against the British pound today as the dollar climbed again, this time to 0.6508. It was only a small improvement but it was back into good territory. More good territory was in order against the euro too as the dollar increased its good results to 0.9205 today. The dollar didn’t seem to have any bad performances against the Swiss franc this week either, at least not yet. Today it closed on an improved 0.9510.
Another improvement came the way of the US dollar today as it increased its standing against the British pound to 0.6538. Would it be able to do the same again to close out the week in good style? No such good news was in store against the euro though, as the dollar slipped back to 0.9177 today. Would there be another loss tomorrow too? More of the same occurred against the Swiss franc as the dollar finally slipped today, falling to 0.9493 in the process. Could it deliver a better result to finish the week as a whole tomorrow?
We wanted another good result against the pound today and the dollar got it too. It finished up with a rate of 0.6554, which was considerably better than it had started with back on Monday morning. We wondered whether we’d have another loss against the euro today and unfortunately the answer was yes. Here the dollar stalled on 0.9115 to close the week, although this was still markedly better than the opening rate had been on Monday. The last rate of the week against the Swiss franc was unfortunately a weaker one – the dollar closed on 0.9426. However it was better than Monday’s starting rate so again the week as a whole had been reasonably okay.