Posted April 30, 2012
Would this be an up and down week as the US dollar got some good results but was unable to hang onto them for any length of time? It certainly looked as though that was the way things would work out.
The US dollar began the week on 0.6206 against the British pound. By the end of day one it had managed to creep up slightly to 0.6218. The opening rate against the Euro was 0.7580 but by the end of the day the dollar had improved its standing here too, rising to 0.7615 in the process. The week would turn out to be fairly interesting against the Swiss franc too, as the dollar went from 0.9109 to 0.9152 on day one.
After the gradual improvement made by the dollar against the British pound yesterday, would it be able to build on that or would it slide backwards again? The answer was that the dollar slid back beyond the point it had started at, to 0.6195. After the early promise shown by the dollar against the Euro yesterday, things went in the opposite direction today. The dollar slid back to 0.7598 which represented a small loss overall, but it was still a notable one. After yesterday’s good start against the Swiss franc the dollar dropped some of its gains today, falling from 0.9152 to 0.9133 in the process.
The dollar pushed back against the pound today and this resulted in a better outcome – finishing on 0.6204 as a result. After yesterday’s loss against the Euro we were hoping for better today but unfortunately we didn’t get it. Instead we ended up lower still on 0.7572. And there was another bit of bad news for the US dollar today against the Swiss franc too. It seemed that Monday’s spike would be the only one for the week, as it lost more ground today as well.
This was clearly an up and down week as the dollar fell back again today to 0.6177 against the British pound. Would it go up again tomorrow to close out the week on a good note, or would this be as good as it got? The dollar couldn’t seem to stop the slide against the Euro either, as today it went down to 0.7567. The dollar also fell against the Swiss franc, going below the 0.91 mark to 0.9092 as it did so.
The final figure for the week against the pound was 0.6162, so the dollar had slipped back a little overall. It hadn’t been a good week against the Euro but there seemed little that the US dollar could do to change things. Indeed there was another fall in store today which led the currency to fall further to 0.7559. If we were looking for just one more bad result to close out the week with for the dollar, we didn’t have to look far. This time we lost out on more ground against the Swiss franc, falling to 0.9081 in the process. This clearly hadn’t been the best week for the US dollar, so we can only hope for better next time.