Posted April 28, 2014
Tuesday saw the first day back after Easter and the first day of trading after a four day break. Would there be some good results to celebrate once the trading began again?
This was the final day of the four day Easter weekend vacation, so there was no trading to see on the currency markets today.
At last trading was back underway today, leading into another four day week on the markets. The US dollar started on 0.5949 and dropped back a little to close things out on 0.5938. Was this the start of a long slippery slope or was there more to come? We did better against the Euro though: here the dollar started on 0.7217 and finished up better off on 0.7237 at the close of play today. Elsewhere the US dollar started off on a reasonable 0.8787 against the Swiss franc, but did better still by Tuesday evening when it settled on 0.8839. Was this a sign of better things to come?
The small loss of yesterday against the British pound was replaced by an increase to 0.5955 today by the US dollar. This was good news, but would it be followed later in the week by more? It was the opposite story against the Euro, as the dollar fell to 0.7228 by the end of the day. We were perhaps prepared for a disappointment regarding the Swiss franc today after yesterday’s good results, and it was certainly the case. We ended up with a lower rate of 0.8817 to bear out this theory.
There was little movement today against the pound, leaving the dollar sitting at 0.5955 at the close of play. The dollar stopped the losses against the Euro though, rising to 0.7235 as a result. It also did better against the Swiss franc, as it rose to close out the day on a much better 0.8829. Would this be the next step along the way to a better rate to finish the week on as well?
After a few ups and downs it was disappointing to see today’s closing rate. It left the US dollar lower on 0.5949 against the pound, with a poor finish for the week as a whole. A similar story played out against the Euro today, as the dollar slumped to 0.7230 at the close of play. Unfortunately this was also the case against the Swiss franc. Despite the fact the dollar had done well on a couple of days here, it didn’t manage to do the same today. Instead it dropped back to close on 0.8816, although this was still better than the opening rate it had started with on Tuesday morning. It had been a week of ups and downs for sure, but perhaps we should remember the positives and take those away instead of being disappointed about the lack of results.