Get started with SVB

Are you an innovation company or investor seeking banking services to help you move bold ideas forward, fast?

Let's get started

Existing SVB clients

Get quick answers from our support page.

For help with commercial cards
1.866.553.3481
cardservices@svb.com

For other questions contact Client Service:

1.800.774.7390
clientservice@svb.com

Find a location

Technical or site issue?

The dollar lost to safe-haven Japanese yen and Canadian dollar but gained vs the British pound

The dollar is flat in thin, volatile trading as some market participants move to the sidelines in the typical year-end lull. The British pound weakened again as investors show concern for the upcoming negotiations between the UK and European Union. The safe-haven Japanese yen strengthened as investors in Japan brought money home.

“There is only one corner of the universe you can be certain of improving, and that’s your own self”

Aldous Huxley
  • FX Rates
    December 19, 2019

    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 broadly flat after the Philly Fed business confidence survey came in weaker than expected for December. Equity markets ran out of steam yesterday afternoon after President Trump was impeached by the House of Representatives. The dollar held up, however, in sparse trading. Market participants around the globe seem to be heading into the year-end holidays early this year as markets have weaker volumes.

    GBP

    The pound is weaker again today as Retail Sales for November came in lower  than expected, even after the Bank of England left their benchmark interest rate unchanged at 0.75%. The BOE lowered their forecast for Q4 GDP to a meager 0.1%. Brexit is expected to pass the UK parliament before the January 31 deadline. Attention will then turn to negotiating a trade deal between the UK and European Union which must be completed by December 2020.

    EUR

    The euro is flat relative to the dollar despite better than expected business confidence readings for December out of France. A quiet day expected on the European front as Macron continues to push forward on his proposed pension reform and German Chancellor Merkel dismisses any public threats from China should Germany ban Huawei from being used in the country’s infrastructure.

    CAD

    The Canadian dollar is slightly weaker this morning despite stable oil prices. Wholesale trade figures for October came in weaker than forecasted.

    ASIA/PACIFIC

    The Australian dollar jumped after better than expected jobs data showed the unemployment rate dropped to 5.2% in November. The Chinese monetary authority added liquidity to the markets to stabilize money market rates and they set the daily fixing for the renminbi to about 7 again.

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/foreign-exchange

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 Policy. If you have privacy questions, you may contact us at privacy@svb.com. You can withdraw your consent at any time.

About the Author

Peter Compton is a senior foreign exchange advisor for Silicon Valley Bank’s global financial services group, and has been with SVB since 2007. He helps clients design and implement hedging strategies for foreign currency exposures. Compton has over 20 years experience in global financial markets.

Before joining Silicon Valley Bank, Compton spent seven years working in the European equity markets. Based in Germany, he spent four years with HSBC and three years as Head of Equity Sales for ABN-AMRO in Frankfurt. Prior to his work overseas, Compton spent seven years with Bank of America in San Francisco as an equity and fixed income derivative specialist.

Compton holds a bachelor's degree in business and management from the University of Rhode Island and a Master's of Business Administration from San Francisco State University.
Now Let's Get Started
 

See how SVB makes next happen now for entrepreneurs like you.

Connect with Us