Posted July 07, 2013
Some weeks provide more drama than others, but would this turn out to be one of them? Let’s find out whether the US dollar has enough to offer to get the best exchange rates this week.
As the week began, the US dollar stood at 0.6474 against the British pound. It didn’t last long though because the dollar managed to up things to 0.6504 by the time the day was over. The opening rate against the Euro was improved upon too, as the dollar started on 0.7587 and went up to 0.7641 by the end of the day. The US dollar began the week on 0.9299 against the Swiss franc, but this changed to 0.9354 after day one.
After a good start to the week yesterday, the dollar fell back today to close it out on 0.6461. This pattern was continued today elsewhere as well, as the dollar fell to 0.7613 against the Euro. Would this be seen against the Swiss franc too? Well by the end of the day the exchange rate had dropped to 0.9340, so this wasn’t the best day for the dollar.
This was clearly going to be an up and down week because the dollar managed to turn things around again today and finish on 0.6512 as a result. A similar picture was seen against the Euro, as the currency improved significantly to close on 0.7678. Today was better against the Swiss franc too, as the dollar improved to 0.9414 by the end of the day.
Our idea from yesterday – with it being an up and down week – was proven again today as the dollar improved to close today on 0.6546 against the British pound. However it didn’t improve everywhere, as the dollar fell back slightly against the Euro, dropping to 0.7673 in the process. It wasn’t the case everywhere though, as the dollar improved to 0.9458 against the Swiss franc. Did it have a big finish in store here?
Finally we arrive at the final day of the week and the dollar managed to go out in style. Today it closed on 0.6553 to give the currency a good finish against the British pound. It has been a dramatic week all in all, and today we can see one final change against the Euro, with the dollar falling to 0.7645. This was better than the opening rate on Monday though, so this at least was good news. Finally the dollar did drop again where the Swiss franc was concerned, as the currency fell to 0.9432. It is clear to see the US dollar had a tough time of it at times last week, as it went up against a variety of European currencies. Perhaps the next week will tell the tale as the dollar tries to improve on its standing against these currencies next time.