Dollar higher in light trading to end week

Dollar higher in light trading to end week

The dollar is higher in light trading as equity futures rise and EU bonds fall. Demand for the dollar seems unaffected by the ongoing decline in treasury yields and hotter than expected inflation. Yesterday, the G7 conference kicked off and major agenda topics include Covid and vaccinations in other countries, climate change, and geopolitics. Equity markets are set to open higher this morning following a record close for the S&P 500 yesterday.
"You cannot shake hands with a clenched fist."
Indira Gandhi
  • FX Rates
    June 11, 2021

    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 higher versus all G-10 peers today, easing its weekly decline and earning back losses following yesterday’s CPI data. Univ. of Michigan sentiment will be released this morning. On the legislation front, after clashing with Republicans on his infrastructure plan, a group of 10 senators have agreed to pitch a 10-year bipartisan spending package to President Biden.


    The pound is slightly lower this morning as variant spread concerns continue to weigh on the currency. G7 leaders arrived in Cornwall today and President Biden met with PM Johnson to restore a close relationship between the US and UK.


    Euro is on the backfoot amid falling bond yields and as the ECB downplays inflation concerns. The ECB also sees the economy expanding by 4.6% this year and the inflation forecast was upgraded from 1.5% to 1.9%.


    The Canadian dollar is also lower versus the dollar and is on track for a third consecutive week of losses. The pair has been largely rangebound and the Canadian dollar is still the best performing currency this year.


    Buying interest in the dollar sent the USD/JPY pair higher recovering nearly all declines from yesterday. The dollar also marched higher versus China’s offshore yuan.

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Kathryn Garvey
Kathryn Garvey

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