Posted March 30, 2015
Every week has its challenges and this would prove to be just the same. The US dollar wants to be in a good position but will this come to pass this week?
Here we are then, and as the week got underway the dollar experienced an instant drop against the British pound. It began on 0.6765 and slid back to 0.6754 by the close of play. It did better against the euro though, rising from 0.9458 to 0.9472 as a result. As far as the position against the Swiss franc was concerned, the only way here was down, at least initially. Here the dollar started the week on 1.0071 and dropped back to 1.0054 by the close of play.
Better news in store for the dollar today against the pound, as it rose to close things out on 0.6769. Could we expect more of the same in the coming days? After yesterday’s good news against the euro things went in the opposite direction today. The dollar was dragged back to 0.9402, taking it lower than the opening rate on Monday had been. Another drop was in store against the Swiss franc, as the dollar fell back to 1.0023 today. Would it go below the 1.00 range?
Another good day was on the cards for the US dollar today, at least as far as the pound was concerned. It closed on 0.6825 today so things were going in our favor. The same turned out to be the case with the position against the euro too, as the dollar edged up to 0.9441 today. Would we keep this going throughout the rest of the week? There was a rise in store against the Swiss franc though after the two previous drops in value over the first two days of the week. This took the dollar to 1.0033 as a result.
Finally it’s time for a drop in status as the US dollar fell to 0.6727 by the close of play. Was this an ominous sign? We could ask the same thing of the dollar versus the euro as it fell back to 0.9365 with just one day of trading to go. The dollar also experienced a drop – and a notable one at that – against the Swiss franc, taking it below the 1.00 mark to 0.9923.
As the week drew to a close the dollar did manage to claw back a little ground against the pound today. However it only got back to 0.6732, which was slightly lower than the opening rate had been several days’ earlier. Unfortunately the dollar lost more ground against the euro as well, closing out the week on a disappointing 0.9279 today. Disappointing too was the drop against the Swiss franc today, which ended the week for the US dollar on 0.9792 – very low and not at all what we were expecting.