Posted November 03, 2015
You never know where the currency markets are going to take you through the week as a whole. This week we will find out whether the US dollar had enough in the tank to get it through to a better rate at the end of the week.
Let’s see how the dollar could do against the European currencies this week. It started strongly against the British pound, at least, with the opening rate of 0.6491 improving to 0.6524 by the day’s end. The dollar did okay against the euro too, rising from 0.9022 to 0.9081 by the time the day was over. More good news was on the way against the Swiss franc, as the dollar rose from 0.9737 to 0.9829.
A slight drop was in store for the US dollar today, as it fell back to 0.6522 against the pound. Only a small drop, but would it turn into something worse? A similar story was seen against the euro too. The dollar dropped back to 0.9040 today, making us wonder whether we were getting ready for a series of falls throughout the remainder of the week. Conversely there was a slight improvement against the Swiss franc, as the dollar rose to 0.9836.
A better day today for the dollar. The pound didn’t have anything it could fight back with, which meant the dollar edged up a little to 0.6538 today. Could it continue like this for two more days, or not? A further drop against the euro took the dollar to 0.9021 there. Finally we saw a slight drop against the Swiss franc as the dollar fell to 0.9832 today.
The dollar continued doing well today as it moved ahead to 0.6557 against the pound. With one day left to go though, had it peaked too soon? The same pattern repeated itself against the euro, as the dollar moved up to 0.9149 today – a considerable rise. Better news too as the dollar had a better result against the Swiss franc, rising to 0.9927 to close out the day. Could it maintain this for one more day or not?
We asked a question of the US dollar yesterday, and today it looked as though the answer was yes. By the time trading for the week was done, the dollar had dropped to 0.6519. This was at least a little better than its opening rate against the pound had been back on Monday morning. Another drop was in store against the euro as well, as the dollar fell to 0.9076. But once again it had done enough through the week to finish up better than it had started. There was a drop against the Swiss franc too, but luckily this also resulted in a good outcome for the week as a whole. The dollar finished on 0.9893 here for the day and the week.