Daily FX Update

Kathryn Garvey

Dollar ends the week lower in light trading ahead of holiday weekend

Volatility in the major currencies slipped to one-month lows in thin trading ahead of Easter weekend and many markets were closed in observance of Good Friday. The dollar is ending the week lower versus all its G-10 peers. Petro-currencies posted the largest gains versus the dollar amid an expected oil deal.

"Blossom by blossom the spring begins."

 

Algernon Charles Swinburne, English poet
  • FX Rates
    April 10, 2020

    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 US dollar is lower against all G-10 peers, ending the week on its back foot amid risk-on sentiment and further stimulus from the Fed. Fed Chair Jerome Powell announced that the Fed will allocate $2.3 trillion more to support local governments and small and medium-sized businesses.

     

    GBP

    The pound tracked higher for a fourth day, but remains range-bound in thin trading.

     

    EUR
    The euro reached a six-day high yesterday, as it continues to track higher in lower volume markets ahead of the Easter holiday and as EU finance ministers agree on a new 540 billion euro stimulus package for the EU economy.
    CAD

    The Canadian dollar tracked higher versus the dollar and is eyeing a 2-week high, as petro-currencies advance on a potential oil deal.

    ASIA/PACIFIC

    Commodity currencies continued an upward trend versus the greenback, the Australian dollar gained 2.17%

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/trends-insights/foreign-exchange-advisory

Subscribe to receive the Daily FX Update in your inbox.

By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Notice. If you have privacy questions, you may contact us at privacy@svb.com. You can withdraw your consent at any time.

Kathryn Garvey
WRITTEN BY
Kathryn Garvey

Insights from SVB Industry Experts

 
SVB experts provide our customers with industry insights, proprietary research and insightful content. Check out these related articles that may be of interest to you.
Dollar slides as markets await Trump’s China comments
 
Read More
Positive economic outlook prevails as dollar weakens
 
Read More
Dollar inches up on US/China concerns
 
Read More
Dollar falls to lowest since March
 
Read More
Dollar strengthens as US-China tension becomes focus
 
Read More
US dollar advances for first time this week
 
Read More