Posted January 07, 2015
Would the US dollar manage to grab some good results before the markets coped with a couple of shorter weeks? Or was there something else entirely in store?
As the week got underway the US dollar was worth 0.6365 against the British pound. This improved a little to 0.6386 by the close of play today. Elsewhere the dollar started on 0.8032 against the euro, and improved on this a little too, rising to 0.8047 in the process. Over in Switzerland the dollar had gotten started on 0.9646 and we had good news here as well, as the dollar closed out play on 0.9666.
We may have had some improvement yesterday against the pound, but nothing like this happened today. Instead the dollar slid back to 0.6353. The same picture was seen against the euro, where the US dollar dropped to 0.7976. Today clearly wasn’t a great day as the dollar had a poor performance against the Swiss franc too. Here it fell back to 0.9578 today.
Yesterday added a few nerves to the situation for the US dollar, but today it improved to 0.6372. Not quite as good as the high point on Monday evening, but better than yesterday. Back to good news against the euro too today, as the dollar edged up to 0.8033 today. Could we continue this upward movement for another day or so? We certainly continued it against the Swiss franc, as the dollar edged further ahead to close things out on 0.9648.
Anyone hoping for more good news today was in luck, as the dollar improved to 0.6402 – the best result of the week against the pound so far. Could it go one better tomorrow or would this be the high point? Yesterday’s result against the euro had us wondering whether the dollar could achieve more of the same now. Indeed it could, as it rose further to 0.8140 to close today’s trading. You might question the result against the Swiss franc at first but in all honesty it’s real. The dollar soared to a day ending high of 0.9810 after beginning on 0.9648 from yesterday.
A dip on the final day of the week was inevitable, you might say. And it happened too, as the dollar slid to 0.6390 against the pound. This was still better than the starting rate had been though. More good news came against the euro, as the dollar really got into its stride to end the week. A closing rate of 0.8143 was the highest achieved all week. Finally the dollar fell back slightly against the Swiss franc after yesterday’s amazing performance. However it didn’t detract from the week-ending rate of 0.9804 – still far better than the opening rate on Monday had been. All in all the US dollar hadn’t done badly at all this week, which was definitely good news.