Posted February 02, 2015
It looked to be more challenging in some areas – and on some days – than in others. We have all the answers as we delve into the performance of the US dollar last week.
As the week began the US dollar stood at 0.6673 against the British pound. However this dropped on day one, taking the dollar back to 0.6660 in the process. Was this a bad omen for the rest of the week? There was another drop against the euro too, as the dollar began on 0.8930 and then dropped to 0.8893. the US dollar opened on 0.8765 against the Swiss franc and made an excellent start here as it rose to 0.8906 by the day’s end.
The dollar had started the week with a drop against the British pound and we saw more of the same today. The dollar fell back to 0.6609 by the end of today as a result. More of the same was seen against the euro as well, as the dollar slipped back further to close on 0.8844 today. It had a healthy day against the Swiss franc again though, due mostly to the woes of the Swiss currency at present. This meant the dollar could edge up to 0.8995 today.
The third drop in a row was in store for the US dollar today, as the British pound pushed it back to 0.6581. Did this mean we’d end up having two more bad days ahead of us too? It certainly meant more of the same against the euro, because the dollar’s woes continued today as it fell back to 0.8815 here. The dollar broke new ground against the Swiss franc though, as it achieved a closing rate of 0.9028 today.
Finally we had some good news for the US dollar today. It edged up to 0.6608 against the pound, although it had some way to go to recoup its losses for the week so far. A similar picture was seen against the euro, as the US dollar rose to 0.8837 today. Would we be able to achieve more of the same tomorrow as well? The news had been good against the Swiss franc all week and it continued in the same vein today as the dollar finished on 0.9166. Could it achieve five good days out of five by tomorrow night though?
The dollar rose again today against the pound, but it stalled on 0.6643, a little way short of regaining its opening position on Monday. It was also some way short of its opening rate against the euro this week, as it closed on 0.8845 against the European single currency today. It managed to get the best week against the Swiss franc though, as it finished on 0.9259 – some way ahead of the 0.8765 the US dollar had started on back on Monday morning.