Posted April 07, 2017
Some weeks are never that good for the US currency, and this week the dollar would be seen to struggle over more days than not.
The week didn’t open on a good note for the US dollar versus the British pound. From a starting rate of 0.8226, the dollar fell to 0.8183 today, giving the pound a good start to move on from. More bad news soon followed against the euro. The dollar began trading on 0.9428 here, before falling back to 0.9378 today. The dollar opened on 1.0129 against the Swiss franc, meanwhile, but here too, it didn’t have the start it would have liked. Instead, it dropped back to 1.0080 today.
The dollar did better against the pound today, rising to 0.8236 and surpassing the opening rate for yesterday, as well as wiping out the losses it had experienced. Did this bode well for the second half of the week too? There was better news against the euro as well, because the dollar moved ahead to 0.9406 today. It managed to increase its standing against the Swiss franc as well, rising to 1.0089 today. Where would the remainder of the week take it?
Another loss was noted against the pound today, as the dollar fell to 0.8197. Had we already seen the best performance of the week for the dollar? We would soon find out. There was more encouraging news against the euro though, as the dollar increased its position to 0.9414 today. There was a slight drop against the Swiss currency, but only slightly, as the US dollar fell to 1.0087.
More bad news for the US dollar versus the pound today, as the currency dipped to 0.8093 today. Where would things end up tomorrow? Would the dollar be able to put in a good performance to help things along for the final day of the week? More disappointment came in the shape of a 0.9323 exchange rate against the euro today, as well. Today marked the day when the US dollar fell below parity with the Swiss currency, as the dollar dropped to 0.9971. It may not have been far below parity, but it was still lower than it could have been.
Disappointment came quickly for the dollar today, as it dropped further to close on a low 0.8090 for the week against the British currency. A final drop was seen against the euro as well – two in a row – as the dollar closed on 0.9313 here for the week. This meant it had fallen in value for the week, leaving us wondering how the next week would pan out. Another drop came in the closing moments against the Swiss franc, taking the dollar back to 0.9963 and marking the lowest rate of the week, too. This had not been the most encouraging of weeks for the US dollar.