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Daily
FX Update

US dollar slightly lower. Financial markets calm with light volume, awaiting US inflation data.

 |  February 13, 2018

Markets anxiously await tomorrow’s US CPI and Friday’s PPI. Fates of global markets are increasingly sensitive to inflation’s effect on benchmark US 10-year Treasuries and future Fed hikes. Larger traders on sidelines. Seeing re-emergence of concerns with expanding US twin deficits – trade and budget.

“Reason is the shepherd trying to corral life's vast flock of wild irrationalities.”  Paul Eldridge

  • FX Rates
    February 13, 2018

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.

    EUR/USD1.2355
    GBP/USD1.3885
    USD/CAD1.2621
    AUD/USD0.7830
    USD/JPY107.68
    USD/CNH6.3310
    USD/ILS3.5375
    USD/MXN18.6350
    USD/CHF0.9342
    USD/INR64.3150

  • USD

    The dollar dropped 1% against the Japanese yen, but much less so against others. Monday’s holiday in Japan meant local traders played catch-up today by unwinding short yen positions.  

    GBP

    UK inflation figures were released today and came in close to expectations. The UK pound moved slightly higher along with broad dollar softness.

    EUR

    The euro edged higher ahead of US inflation data and Eurozone GDP & Trade data to be released later in week. 

    CAD

    The Canadian dollar is weaker against the US dollar, as oil continues to move lower, (WTI) trading this morning at $58.80. Also not helping, was President Trump’s latest protectionist oratory on countries that exploit trade with the US. 

    ASIA/PACIFIC

    Asian traders starting to focus on whether or not Bank of Japan Governor Kuroda will be reappointed, who they say will bring policy continuity. President Abe is expected to nominate a candidate in the next week or two.

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.  
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

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Source: Bloomberg 2017
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About the Author

Scott Petruska is a senior advisor for Silicon Valley Banks’ global financial services group, and is based in Boston, MA. He advises clients on currency and interest rate hedging strategies and helps them with other aspects of global banking. He regularly writes blogs on topics covering the global financial markets, conducts client seminars and webinars, and speaks at regional financial conferences.

Petruska has over 30 years experience in the currency and interest rate markets, and has lived and worked in Boston, Chicago, New York City, Singapore and Tokyo. Prior to joining SVB in 2009, he worked at several large international financial institutions, including National Westminster Bank, Irving Trust, Bank of New York, State Street Bank and Commerce Bank. He has been an institutional trader, product developer, analyst, salesperson and advisor.

Petruska has been awarded several professional designations, including the CFA (Chartered Financial Analyst), FRM (Financial Risk Manager) and CMT (Certified Market Technician). He earned his undergraduate degree in Finance & Banking from the University of Wisconsin.

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