The dollar is higher at the end of the quarter, fueled by rising US Treasury yields amid heightened expectations of Fed tapering as early as November. The S&P remains poised for a sixth straight month of gains despite large sell-offs this week. Fed Chair Powell will testify before the House Financial Services committee today.
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September 30, 2021
EUR/USD 1.1598 GBP/USD 1.3492 USD/CAD 1.2735 AUD/USD 0.7221 USD/JPY 111.79 USD/CNH 6.4575 USD/ILS 3.2232 USD/MXN 20.5050 USD/CHF 0.9342 USD/INR 74.2325 USD/BRL 5.4325 USD/SGD 1.3582 USD/DKK 6.4142 USD/SEK 8.7478 USD/NOK 8.7335
The US dollar is holding steady today amid quarter-end rebalancing investment flows. Commodity currencies and the offshore yuan (CNH) are outperformers. US Jobless claims this morning for the week ending September 25 were higher than expected.GBP
The pound increased slightly amid heightened BoE rate hike expectations. UK GDP YoY of 23.6% was better than 22.2% expected, which inspired buying of the UK pound.EUR
The euro fell below $1.1600 in the interbank market amid equity weakness and energy price increases.CAD
USD/CAD fell from yesterday's one week highs swayed by mixed sentiment around the USD and higher oil prices.ASIA/PACIFICUSD/JPY pushed to 19-month highs amid rising US yields and improved risk appetite in financial markets.
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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