.png){kind=logo}
The dollar rose overnight on Delta variant concerns and continued higher after ADP payrolls data came in stronger than expected. The UK pound continued to weaken as Covid case counts continue to rise. The Aussie dollar is down again on concerns low vaccination rates are the cause of Delta variant case surges. The Canadian dollar strengthens slightly on better than expected GDP data.
-
FX Rates
June 30, 2021Rates 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.
EUR/USD 1.1877 GBP/USD 1.3830 USD/CAD 1.2383 AUD/USD 0.7500 USD/JPY 110.68 USD/CNH 6.4639 USD/ILS 3.2599 USD/MXN 19.8525 USD/CHF 0.9245 USD/INR 74.32 USD/BRL 5.0061 USD/SGD 1.3445 USD/DKK 6.2627 USD/SEK 8.5123 USD/NOK 8.5766
-
USD
Dollar strength continued for a third day on concerns about the rising cases of Covid from the Delta variant. Also, stronger than expected ADP private payroll data. And finally, speculation that regardless of job gains, interest rates in the US will be heading higher than the Fed currently forecasts.
GBPSterling has lost 0.4% against the Dollar since yesterday’s London open as daily Covid cases continue to climb.
Recent reports show British households saved 20% of their disposable income in the first quarter of the year as opportunities to spend were limited amid lockdown. The economy shrank 1.6% in the period, slightly worse than the 1.5% forecast.
EURThe euro lost on overall dollar strength. Euro Area economic confidence climbed to the highest level in 21 years this month, as shops, restaurants and services reopened. Confidence for the month rose in five of six of the bloc’s largest countries, only declining in Spain.
CADThe Canadian dollar is stronger after April GDP data showed a smaller contraction than had been expected. Prior month was also revised favorably.
The American Petroleum Institute (API) announced oil stockpiles fell more than expected during is normal weekly data release. That and news the nuclear talks with Iran have stopped sent the price of oil higher.
ASIA/PACIFICThe Australian dollar continues to weaken as news about lockdowns and more Covid cases saps optimism. The currency has fallen 3% vs. the US dollar and is once again struggling to maintain the 0.75 handle.
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
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 PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
| Source: Bloomberg | |
This article is intended for U.S. audiences only. ©2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. The views expressed in this email are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction. Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources. |
