Posted March 25, 2014
Some weeks produce results that can’t be followed that easily, thanks to the dramatic rises and falls that occur on the currency markets. This would be one such week for the US dollar, as you are about to find out.
As the week got underway the US dollar was worth 0.6026 against the British pound. Unfortunately we dropped back a little today, closing on 0.6017 as a result. We had a similar disappointment against the Euro too, as the dollar closed on 0.7191 after opening the day on 0.7202. Elsewhere in Europe the dollar opened on 0.8732 against the Swiss franc, and edged up to 0.8740 before the day was over.
After the disappointing start we had yesterday, the dollar perked up a little today and managed to close on a more impressive 0.6030. Could we keep this performance up all week though? We’ll find out soon enough. Elsewhere we had a slight improvement against the Euro too, rising to 0.7193 as well. We also did well against the Swiss franc, registering a slight improvement to 0.8748 by the day’s end.
Once again we had a drop in the exchange rate against the pound today, as the dollar fell to 0.6014. This was a real rollercoaster week for sure. We saw the same result against the Euro too, as the dollar fell back to close out the day on 0.7187. We ended up with a similar pattern to the one we saw yesterday, but on a negative note, as the dollar slid to 0.8745 against the Swiss franc too.
If we were looking at ups and downs so far we should have been expecting an up again today – and that’s what we got against the pound. The dollar perked up to close out the day on 0.6064. We also saw a similar result against the Euro. The dollar managed to improve significantly here to finish on 0.7266. The pattern was also repeated against the Swiss franc: the dollar enjoyed a nice rise that took it to 0.8857.
There was another slight increase today for the US dollar, but we only saw it a few decimal points along. Yesterday we closed on 0.606416 and today we closed on 0.606459. There was a different story to be told as far as the Euro was concerned though. Unfortunately the dollar slipped a little here to finish on 0.7256. Once again there was a difference against the Swiss franc too, as the dollar changed to finish on 0.8840. Clearly the rises and falls we’ve seen were pretty uniform across the entire week, with the dollar gaining on some days and losing on others. The question now is whether we’ll see something similar next week or whether there will be better news in store across the entire week. We’ll have the results for you either way.