This works only for the day when the item is dragged to the dashboard. I did this some time back and it showed correct day. When I log in into my dashboard today, it still has the previous date.
Lets take an example to understand this better. I have created this dashboard on '2014-04-01' date, it was working fine for '2014-03-02' (From) and '2014-04-01' (To) date range. Now when we try to run dashboard, it is suppose to show result for '2014-03-17' (From) and'2014-04-16' (To), but instead of doing that we are getting results for '2014-03-02' (From) and '2014-04-01' (To) date range.