Posted October 07, 2015
You never quite know what is in store in the currency markets from week to week. This time we’ll see whether the US dollar could do better against the European currencies.
Here we go then with a look at how the US dollar stood up to various European currencies last week. It began on 0.6589 against the British pound last Monday before dropping to close out the day on 0.6581. Another drop came into view against the euro today as well, as the dollar started on 0.8967 before falling back to 0.8952. A tiny improvement from 0.979464 to 0.979499 was seen against the Swiss franc to start the week too, but would it be enough to trigger a positive result this week?
Better news for the dollar versus the British pound today as the closing exchange rate went up to 0.6596. Could this continue for the remaining three days of trading? There wasn’t such good news against the euro today though, as the dollar dropped back to 0.8925. Would this be a week of falling fortunes for the dollar against the euro, or would things be about to turn around? The dollar lost ground against the Swiss franc today though, falling to 0.9729 as a result.
Bad news today as the dollar couldn’t replicate its success of just 24 hours earlier. Instead it slid back to 0.6591. Finally we had some good news against the euro though, as the dollar edged up marginally to 0.8926 today. After yesterday’s loss against the Swiss franc, there was better news today. The dollar edged up further to 0.9742 today.
We’d already seen one good result this week against the British pound, and today the dollar would add to that. It rose to 0.6605 today – the best result of the week so far. Could it do the same again tomorrow though? After yesterday’s slight improvement against the euro, there was better news today. The dollar managed to achieve a closing rate of 0.8966 today, which was really good news. Just one day to go, so what else could happen tomorrow? Another piece of good news came by way of an improved exchange rate of 0.9775 today against the Swiss franc as well, so today at least was pretty positive in nature.
Another drop for the dollar today against the pound, but it did manage to stay slightly ahead of the opening position it had started from on Monday, stalling on 0.6593 today. Perhaps we should have expected a drop against the euro too, and we did get one unfortunately. The dollar fell to 0.8960, putting it slightly below the point it had started with on Monday. We didn’t get a drop against the Swiss franc though. Instead the dollar managed the third good result in a row, finishing the week on 0.9787 as it did so.