Different Parts of the World Equal Different Results
Posted by Allison on 31 March 2014, 15:43
Some weeks are definitely better than others as far as all currencies are concerned. However you do occasionally have weeks that are virtually split down the middle. This would be one of them – and you will see why when you read the results we’ve got for you below.
An overview of the currency markets for March 24th – March 28th 2014
The British pound has had a few ups and downs against the US dollar recently. So would this week produce more of the former or the latter? The week opened on 1.6489 before the pound lost a tiny amount on day one, falling to 1.6487 as a result. The good news was that from this moment on we had only good news to witness. Throughout the week the pound went from strength to strength and eventually finished off with an impressive rate of 1.6633 on Friday night.
This was a good result, but could the pound replicate its performance against the Euro as well? Things opened on 1.1966 here and we had some good news right from the start, as the pound edged up to close Monday evening on 1.1970. And again this was the start of a very encouraging set of results that poured in during the week. In fact as far as the battle against the Euro was concerned, the European single currency had nothing to offer by way of a fight back. Instead the pound climbed to finish on 1.2088 on Friday evening.
The week was shaping up rather well for the British pound. In fact we have another good result to share now, where the only hesitant day came right at the start. The pound started the week on 12.798 against the Hong Kong dollar but it dropped to 12.792 on Monday night. From then on it was only ever good news, and by the time Friday night arrived the pound had improved to close on 12.903.
Even though we have achieved three good results so far, you never quite know what to expect against the likes of the New Zealand and Australian dollars. The picture can be rosy elsewhere but still produce disappointment in this part of the world. This was certainly the case against the New Zealand dollar this week, as the pound began on 1.9320 before falling to 1.9293 by Monday evening. The pound recovered on Tuesday but we had a few ups and downs here before the pound finally came off worst. We finished on 1.9176 on Friday night.
Finally let’s see whether we ended up performing just as badly against the Australian dollar. The answer soon became clear. We started off with a rate of 1.8187 and fell in value throughout almost the whole week. There was a brief respite on Thursday evening but it was really just delaying the inevitable. By Friday night we had dropped back to close on 1.7995.
Notable events in the world of currency
Another poor showing against the Canadian dollar
It probably won’t come as a surprise to see another poor result by the British pound here. The Canadian dollar pushed it back from 1.8469 to 1.8359 throughout the week.
A surprise against the Swiss franc
This was one of the best results we had seen all week. The pound managed to improve from 1.4577 to close Friday evening on 1.4731.
More good news against the Icelandic krona
Here too we had some good news. The pound opened the week on 187.398 but by the time Friday night arrived it had improved to 188.760.
So as you can see it was an enlightening week on the currency markets. We had our fair share of challenging results but at least we could also enjoy some better ones here and there.
It still remains to be seen whether we’ll see a similar pattern next week. Rest assured either way we will make sure you get access to all the best news right here on our website.