Dollar continues to ease as share prices rise

Dollar continues to ease as share prices rise

Mild risk-on sentiment weighs on the dollar this morning as share prices are broadly higher. Delta variant concerns have initiated masking mandates across the US and abroad. Countries are working to offer vulnerable residents a third shot of vaccines to increase efficacy and ward off a fourth wave this fall.

“You cannot escape the responsibility of tomorrow by evading it today.”

Abraham Lincoln
  • FX Rates
    August 3, 2021

    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.


  • USD

    The dollar is softer again this morning as strong earnings boost equities. Amid the spreading delta variant, Senate Lindsey Graham tested positive for the virus. This all comes as the Senate prepares to pass a $550B infrastructure bill this week. Durable goods and factory orders for June comes at 10 a.m.

    GBP

    Sterling is stronger versus the dollar, helped by declining local covid infections and anticipation of hawkish signals from Thursday’s Bank of England meeting.

    EUR

    The euro climbed higher amid rising 10-year yields, higher equity prices and as virus cases in Europe fall. The pair trade within familiar ranges and eurozone PPI for June rose 1.4% MoM as expected.

    CAD

    The Canadian dollar is weaker versus the greenback amid a decline in WTI prices. The USDCAD cross is quiet this morning following a civic holiday in Canada on Monday.

    ASIA/PACIFIC

    USDJPY fell again this morning amid strong investor demand and as the yen touched two-month highs versus the greenback.

    The Aussie leads gainers following the Central Bank’s announcement it will stick with the current tapering plan – instilling confidence the economy will rebound following the latest virus outbreak.

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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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