Posted September 02, 2014
There was no distinct pattern to be noted across the board this week. Instead the US dollar had an interesting challenge from day to day.
So let’s check out the performance of the US dollar right now as the week gets underway. It didn’t start well against the British pound, falling to 0.6027 from a starting point of 0.6032. There was bigger news against the euro though, as the dollar climbed to 0.7575 from an opening rate of 0.7537. Our third stop is with the Swiss franc, and here the dollar started on 0.9120 before improving to 0.9156.
Better news in store for the dollar against the pound today, as it clawed back the losses from yesterday. It actually ended up on 0.6034 by the close of play. Could we have better news against the euro today? Well, we did edge up a little further to stave off losses and end the day on 0.7580. There was another marginal improvement against the Swiss franc as well, taking the dollar a little further on to 0.9161 by the close of play.
This was turning into an up and down week this time around as the dollar fell back against the pound again, dropping to 0.6025 as it did so. Another improvement was in store against the euro though, as the US dollar pushed ahead to close on 0.7588. Perhaps we should have expected a drop against the Swiss franc at some point, and today turned out to be that day. The closing rate was 0.9158, so you can see the drop really was small.
Once again there was better news today with a closing rate of 0.6028 for the US dollar against the pound. What would it end up producing for the last day of the week? There was a slight drop against the euro but only one that could be seen several decimal points in, with yesterday’s rate of 0.758898 dropping to 0.758840. The pattern of seeing falls against other currencies was borne out again today against the Swiss franc. Here the dollar lost 0.074% of its value, going down to 0.9151 in the process.
We were hoping to add on a little more value to the US dollar today and we did manage that against the pound, but only as much as to get to a closing rate of 0.6030 for the week. This was marginally lower than we’d started with. Unfortunately we had another drop against the euro to close with, as the dollar finished up with a closing rate of 0.7582 today. We also dropped further against the Swiss franc, despite the good start we’d had to the week. Here we ended up with a closing rate of 0.9145 today. Maybe in future we’ll see better results all round for the US dollar, although that remains to be seen.