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December 22, 2020
EUR/USD 1.2221 GBP/USD 1.3376 USD/CAD 1.2904 AUD/USD 0.7533 USD/JPY 103.52 USD/CNH 6.5397 USD/ILS 3.2372 USD/MXN 20.0409 USD/CHF 0.8867 USD/INR 73.84
The dollar holds Monday’s gains and is mostly higher versus G-10 peers amid concern over a new strain of Covid and additional travel restrictions. The US House and Senate passed a $900B stimulus deal which is expected to be signed into law by the executive branch today. President Trump also signed legislation to fund federal agencies through December 28 – avoiding a partial shutdown.GBP
The pound fell further after the UK’s latest concessions on fishing rights were rejected by the EU. UK GDP figures out this morning show that the economy grew by a record 16% in Q3, revised from the previous 15.5%.EUR
The euro is little changed versus the dollar. The European Commission approved Pfizer’s Covid vaccine yesterday and is expected to begin vaccinations in Germany, Austria and Italy as early as Sunday.CADThe Canadian dollar edged lower versus the USD weighed down by lower oil prices and growing concerns on Covid’s impact on commodity demands.ASIA/PACIFIC
Asian markets declined with stocks dipping in Japan and South Korea. The Japanese yen is down slightly versus the dollar.
For more analysis on FX markets or information regarding SVB's FX services:
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory
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