Posted July 13, 2015
The US dollar would have an interesting week this week to say the least. Ups and downs came in equal measure – but would we finish with the better news or not?
Here we go then and the US dollar started well today – against the British pound at least – by moving from the opening rate of 0.6400 to 0.6431 by the close of play. Elsewhere in Europe the dollar made a good start against the euro too – rising from 0.9012 to 0.9084 today. In Switzerland the dollar did well to start the week too, as the dollar rose from 0.9432 against the Swiss franc to 0.9467 by the time the day was over.
There was more good news for the US dollar today as it improved against the British pound again, this time moving up to 0.6474. Could it keep this up for the remainder of the week? We would ask the same against the euro too, as the dollar rose further today to 0.9148. And again the same question would be repeated as the dollar hit a new height against the Swiss franc today, rising to 0.9498 in the process.
We made it three out of three so far at least, as the dollar made it up to 0.6506 against the pound. The same couldn’t be said of the dollar versus the euro, as the euro had gotten the better of it today by pushing the dollar back to 0.9071. The same situation was seen when the dollar went up against the Swiss franc and came out without the good result it was hoping for. It dipped slightly to 0.9491 as a result.
Finally the downfall came for the US dollar, as it dipped to 0.6491 against the pound. At least this was a relatively small drop. Another dip came in the form of the dollar’s performance against the euro as well, as it fell further to 0.9046 today. Could it rescue the bad performance on the final day of the week? We would have to wait to find out. We had better news against the Swiss franc at any rate, as we watched the dollar rise marginally to 0.9502 by the end of today.
We had more bad news today as the dollar dipped further to 0.6444 against the British pound. Still, this was better than Monday’s opening rate had been. The same weak performance by the dollar was seen against the euro as well today, as it fell to a disappointing ending. Here it would finish on 0.8940 today. We had more of the same bad news as far as the Swiss franc was concerned too. Here it dropped by a remarkable amount today – more than 1.5% - as it fell to 0.9355. This took it well below the opening rate we’d had on Monday morning, and even further below the better rate of 0.9502 we’d seen just one day earlier.