Posted December 23, 2015
The first full week in December 2015 proved to have its challenges for the US dollar. The European currencies – the strongest ones, at least – were stronger than the US dollar throughout much of the week.
Here we go then, with a good result against the British pound to start the week. The US dollar opened on 0.6605 against the pound, before rising to 0.6639. Did this mark the start of an encouraging week? Onto the euro now, and the US dollar began trading on 0.9172 here this week. At the end of the day this had improved to 0.9251, so things were heading in the right direction. The same could be said of the dollar against the Swiss franc too, as the dollar improved from its opening rate of 0.9981 to 1.0019 today.
Another piece of good news today, as the dollar edged up to 0.6685 against the British pound. How much longer could this continue for? After yesterday’s good start against the euro, we had bad news today. The dollar dropped to 0.9195 and it looked more uncertain than it had just a day ago. More disappointment came against the Swiss franc as well. After such a good start yesterday, the dollar dropped back to 0.9949 today.
Finally, today we had a drop against the pound, as the dollar sank to 0.6627. The bad news continued against the euro as well, as the dollar dropped further to 0.9139 today. Would this continue throughout the remainder of the week as well? Only time would tell. There was definitely a weakness through the middle period of the week for the dollar, as it fell back to 0.9898 against the Swiss franc today as well.
It looked as though the dollar was finally losing ground against the British pound at least this week. Today it finished up with a rate of 0.6611. Would it dip below 0.66 as the week came to a close? We asked a question concerning the performance of the dollar versus the euro yesterday, and today we had our answer. The dollar dropped still further to 0.9138. Would it continue to fall for the final day of the week as well? The fall continued against the franc anyway, as the dollar dropped to 0.9874 today.
Yesterday we asked a question of the US dollar. Today we got an answer – and not a good one at that. It dropped to 0.6597 against the pound as the week came to a disappointing end in that area at least. We finished with bad news for the dollar against the euro as well, as the closing rate there for the dollar was 0.9132. The dollar did at least manage to improve against the Swiss franc today, although not enough to regain its opening rate earlier in the week. Instead it finished on 0.9880 today. It was unable to regain that figure of parity it had seen earlier this week.