Trans-Atlantic Exchange Rate Report for August 19th - 23rd
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.
For the week of August 19th to August 23rd, we observed the exchange rate changes of the different Trans-Atlantic currencies. This week, all four currencies showed an upward trend in their exchange rates from the beginning. The Swiss franc (maroon) experienced the most significant rise, ending the week up by around 2.48%. Similar to the previous week, the Euro (blue) and the British pound (green) followed nearly identical paths until they diverged toward the end. The Euro closed the week at approximately 1.38%, while the British pound ended up around 1.85%. Lastly, the Canadian dollar (red) saw less fluctuation compared to the other currencies but still finished the week with an increase of about 0.99%.
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: Continuing from last week, all four currencies are trending upwards as we head into the last week of August. The British pound (green) and the Euro (blue) have risen well above their three-month averages. The Swiss franc (maroon) did not experience as much change compared to the other currencies but has risen back up to the peak it reached a few weeks ago. Finally, the Canadian dollar (red) is continuing to rise above its three-month average, recovering from the low point observed during the first week of August. We will continue to add data to this graph as the weeks progress.
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