Posted by Allison on 14 January 2011, 04:22
So here we are at the end of another year. 2010 will be remembered for many reasons, but we’re interested in how it came to an end for the British pound. Would it produce a good result as far as the currency was concerned when it was pitted against the Swiss franc? In other areas it has produced less than perfect results for the final days of 2010, so perhaps the same will be true here as well. Alternatively it could be that the British pound will triumph against the Swiss franc, giving us cause to celebrate.
Whatever happens, let’s start at the beginning, with the 1.5507 exchange rate that was in place at the end of November. This took a healthy leap to 1.5701 by the end of the next day, but then we fell back on the currency converter and ended the week on 1.5498.
The 8th saw a better effort from the pound though, as we finished on 1.5608 and felt confident that we now had the Swiss franc where it needed to be. The week may have finished on 1.5526 but it was better than nothing.
Unfortunately the following week showed us that the Swiss franc had plenty more strength at the moment than the British pound did. By the time the following week had come and gone, we were looking at a rather disappointing exchange rate of 1.4953.
The week beginning the 20th December – Christmas week – began more strongly for the pound with an exchange rate of 1.5005 on the cards. But once again we didn’t achieve what we really wanted to, and we let the lead slip as we struggled to stay ahead. As the festive season finally came upon us we were left with a disappointing 1.4851 to go into those few holiday days with. This was not how we wanted things to be and we were wondering whether we could hope to achieve anything better, now we had just a few days left to succeed with.
If we thought we might get lucky over the last few days of 2010, it turned out we were very much mistaken. It was hoped that we could successfully claw back some of our losses thus far, but this would prove to be very far from what actually happened. The initial loss was a small one, as we fell to 1.4814 on the first day back after Christmas. But that was as good (if such a word could be used in this situation) as it would get.
Now we had no way to go but down, according to the figures that were returned to us over the next few days. Unfortunately we would end the month on 1.4526, a dismal figure that proved the Swiss franc had a far better end to the year than the pound did. Hopefully we can start 2011 in a better fashion, but we remain to be convinced at this stage.