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%

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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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