Trans-Atlantic Exchange Rate Report For May 20 - 24
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 May 20th to May 24th, we observed changes in the Trans-Atlantic currencies. Starting with the Swiss franc (maroon), it had the largest change of the week, dropping down to nearly -1.0% before rising slightly to around -0.90%. The Canadian dollar (red) and the Euro (blue) experienced similar changes up until the end, not changing much until the latter half of the week when the Canadian dollar dropped to -0.85% and the Euro dropped to -0.5%. Finally, the British pound (green) was the only positive change, rising up to 0.20% by the end of the week.
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 incorporating this week’s observations into our historic trends graph, we observe the following. Aside from the British pound (green), which continued to trend upward from last week, the Euro (blue), the Swiss franc (maroon), and the Canadian dollar (red) all experienced a drop in the exchange rate. The franc and the Canadian dollar are currently below their 3-month averages, while the Euro and pound are above. Notably, all four currencies are currently trending upwards.
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