Posted May 28, 2014
The US dollar brings in lots of diverse results when compared to other currencies. Now let’s compare it to several European currencies to see how it performs there.
Here we are then at the beginning of the week and the US dollar stood at 0.5949 against the British pound as things got underway. It then dropped to 0.5939 by the end of the day though, so this wasn’t a great start. Elsewhere the dollar started off on 0.7301 against the Euro but again we saw a drop here as the dollar fell to 0.7291. There was an improvement against the Swiss franc but only a marginal one as the currency moved from 0.891501 to 0.891579. However any movement in the right direction is a good one.
After yesterday’s disappointing start against the pound, the dollar managed to edge the slightest improvement today. This saw it hit 0.5940 so maybe it was the start of a better performance. We saw a similar event occur against the Euro, taking us to 0.7298 in the process. Elsewhere the dollar nudged things in its favor as it closed on 0.8920 against the Swiss franc.
Our thoughts yesterday were blown out of the water today as the dollar dipped significantly against the pound. It slid back to 0.5918 by the close of play, making us wonder how much worse things would get by the end of the week. We weren’t proved wrong against the Euro though, because the dollar managed to edge up to close on 0.7312 here. There was better news against the Swiss franc as well, because the dollar had another good day here to end on 0.8932.
We were back to better news today when the US dollar improved to 0.5929 against the pound. Maybe we’d already seen the worst point of the week here. There was good news against the Euro as well, as the dollar managed to achieve a better rate of 0.7316. This theme continued against the Swiss franc as well, because the dollar closed on 0.8936 here. They were small improvements but even these were better than a loss.
We saw another improvement against the pound today as the US dollar hit a closing weekly rate of 0.5938. Unfortunately this was slightly lower than we’d started with. We did do better against the Euro though as the closing rate here turned out to be 0.7336. Finally we also managed to sneak in a good closing rate against the Swiss franc. The week ended here on a rate of 0.8958 so it was a very good week considering the opening rate we’d had in this particular country. It remains to be seen whether we can make the most of this and carry it forward into another week. Hopefully we can do just that but the US dollar will no doubt have its battles to fight next week as well.