Daily FX Update

Kathryn Garvey

Dollar posting weekly drop ahead of holiday weekend

Currencies are trading in narrow ranges ahead of the Fourth of July holiday. The dollar is set to post a weekly drop following Jobs data yesterday.

“The life of the nation is secure only while the nation is honest, truthful and virtuous"
Frederick Douglass
  • FX Rates
    July 3, 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 dollar headed for a weekly drop following improved sentiment in the wake of Jobs numbers released yesterday. Upbeat tone is tempered as coronavirus cases are on the rise across the US.
    GBP

    The pound is lower in thin trading ahead of the holiday weekend. The EU and UK are expected to return to negotiations next week.

    EUR
    The euro ticked up 0.1% on the week following last week’s climb. Quarterly pace of economic contraction slowed to 0.2% in June which was better than expected.
    CAD

    Sliding oil prices weighed on the Canadian dollar as the currency slipped versus its US counterpart.

    ASIA/PACIFIC

    The yen is range bound in thin trading ahead of the holiday weekend and is ending the week stronger versus the dollar.

    China’s offshore yuan eked out its biggest weekly gain (+0.24%) in four on an uptick in manufacturing purchasing managers’ index adding to signs that the economy is rebounding.

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.

FX Daily Update: US dollar holds at two-year lows

 
Read More

FX Daily Update: US dollar down against peers as debate on US fiscal stimulus continues

 
Read More

Commodity-linked currencies decline as USD gains

 
Read More

Daily FX Update: US dollar on track for largest 2-day gain in 7 weeks

 
Read More

Daily FX Update: Dollar ends lower for sixth straight week

 
Read More

Daily FX Update: Dollar steady after GDP slump

 
Read More