Posted December 30, 2013
It would be a challenging week this time around for sure, but exactly how challenging would it be? Let’s find out the answers as we get the latest figures from the currency markets.
The week began with the US dollar on 0.6118 against the British pound, and this dropped slightly to see the dollar close on 0.6104 by the time the day was over. The opening rate against the Euro was 0.7320 and this fell too, closing on 0.7287 as a result. Moving over to another part of the world entirely, the US dollar started the week on 7.7547 against the Hong Kong dollar. This also fell today, ending up on 7.7536 as a result.
There was another drop to report on today for the US dollar, as it slid back a little further to 0.6083. This wasn’t looking too encouraging as far as its position against the British pound was concerned. The same picture played out against the Euro as well, as the US dollar slid further to finish the day on 0.7272. This was obviously destined to be a week of almost entirely bad news, as the US dollar finished up on 7.7530 against the Hong Kong dollar as well, losing more ground over yesterday’s poor performance.
Today we finally had some good news against the British pound. The dollar managed to climb to finish the day on 0.6103. Was there more good news in store for the end of the week? The same couldn’t be said against the Euro though, because the dollar ended up falling back a little more here and finishing on 0.7263 as a result. It was back to good news against the Hong Kong dollar though as the US version climbed a little to 7.7544.
After yesterday’s encouraging news we were a little disappointed to see the US dollar fall again today, as the British pound pushed it back to 0.6095. The same story was getting old by now as we looked into the exchange rate between the US dollar and the Euro – this had fallen too, closing on 0.7259. It was also time for another disappointment against the Hong Kong dollar as the exchange rate here went to 7.7533.
It may have been unlucky for some but the date didn’t deter the US dollar from achieving another good rate today. It closed things out on 0.6146 against the British pound, soaring to the highest rate of the week in the process. We also saw the first increase of the week against the Euro as the dollar hit 0.7284 today. It wasn’t good enough to make back all the losses though, so it wasn’t as heartening as it could have been. There was nothing much to tell between the US and Hong Kong dollars today, but what little advantage there was to see went to the Hong Kong dollar.