Trans-Atlantic Exchange Rate Report for August 12th-16th
By Lucas Messaggi, The Quinnipiac University Economics Research Team
Trans-Atlantic Currencies Index
Source: Yahoo Finance and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency) and then indexed to be 100 at the start of the period.
During the week of August 12th to August 16th, we monitored the exchange rates of Trans-Atlantic currencies for any changes. The Swiss franc (maroon) remained relatively steady throughout the week, hovering around the 0.25% mark before dropping to -0.64% by the end of the week, making it the only currency to experience a negative percentage change. The Canadian dollar (red) also showed consistency, with a slight rise on August 14th, finishing the week at around 0.013%. The Euro (blue) and British pound (green) were more volatile, surging at the start of the week and closing at 0.52% and 0.88%, respectively.
Trans-Atlantic Historic Trends
Source: Yahoo Finance and own calculations. Exchange rates are inverted to be USD per local currency (i.e., an increase indicates a stronger domestic currency. The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.
After adding this week’s data to our historic trends graph, we observe the following. The Euro (blue) continues to rise even after the initial spike at the beginning of August, going beyond its three-month average. The Canadian dollar (red) is also trending upwards but seems more stable compared to the significant spike at the beginning of August. The British pound (green) experienced a large increase in the exchange rate and appears to be trending upwards, returning to the peak that occurred in mid-July. Finally, the Swiss franc (maroon) showed the least change in its exchange rate despite a small drop during the week and is trending upwards once again. We will continue to add data to the graph as the year goes on.
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