Posted August 06, 2013
Many weeks see ups and downs but how would the week end this time around? Would the US dollar have the strength to show us just how good it is? Let’s find out what happened this week.
As the week began the US dollar was on 0.6493 against the British pound. This climbed to 0.6506 by the end of the day, so things started well here. Over with the Euro, the starting rate was 0.7541 and this dropped to 0.7535 by the close of play, so things were clearly heading in a different direction. The dollar started out on 0.9301 against the Swiss franc but it soon lost ground and finished up on 0.9291 by the end of the day.
After yesterday’s nice start, the dollar did reasonably well today too against the pound, climbing to 0.6529 by the time trading was over. Once again it was a different story against the Euro though, as the dollar fell back to 0.7527. Only a small difference but a difference nonetheless. There was a similar pattern being created against the Swiss franc too, as the dollar fell further to finish the day on 0.9285. These were only small losses but they were mounting up and providing a pattern that could continue for some time yet.
If we were waiting for a glitch it didn’t happen today. The dollar improved further against the British pound, closing the day on 0.6580 in the process. Finally we saw an upswing against the Euro, as the dollar finished the day on 0.7532. The same could not be said against the Swiss franc though, as the dollar fell a little more to finish the day’s trading on 0.9278.
There had to be a bad performance in there somewhere didn’t there? Today was the day where this happened, as the dollar slid back a little to 0.6566 against the pound. The upswing from yesterday took hold in a stronger way today and the dollar finished up closing out the day on 0.7555. There was more good news with regard to the Swiss franc too, as the US dollar managed to reclaim some of the lost ground to end up on 0.9305. Would it retain this good news over one more day though?
Finally the US dollar put on a little weight again today after yesterday’s blip. It closed the week on a high against the British pound, ending on 0.6599 in the process. There was good news for the dollar against the Euro as well, as it closed the week on 0.7574 – the highest rate of the week. We got one more piece of good news to finish the week on as well, as the US dollar climbed to 0.9378 by the end of trading. This meant the US dollar had saved the best for last here as well.