Dollar index jumps towards key 100 level
-
FX Rates
February 20, 2020Rates 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 1.0817 GBP/USD 1.2863 USD/CAD 1.3243 AUD/USD 0.6625 USD/JPY 112.11 USD/CNH 7.0371 USD/ILS 3.4271 USD/MXN 18.7455 USD/CHF 0.9822 USD/INR 71.6612
-
USD
The dollar has gained for another day as a spike in coronavirus cases in South Korea and fatalities in Japan sent investors to safe havens. The dollar index rose towards a psychologically important 100 level – a level not seen since 2017. Jobless claims are due out this morning and are expected to show a slight increase to 210,000.
GBPDespite edging up after UK retail sales beat expectations, sterling fell for a fourth straight day to its lowest level since November on lingering Brexit uncertainty and the increasing strength of the US dollar.
EURThe ECB will release an account of its January meeting, which investors will comb for clues to a change in current policies. French CPI came in as expected at 1.5% YoY. The euro continues to trade near multi-year lows on dollar strength and weak economic conditions in the eurozone.
CADUS dollar strength outweighed higher oil prices and lifted the USD/CAD pair above 1.3260. Canada will release retail sales tomorrow, and they are expected to increase 0.1%.
ASIA/PACIFICThe offshore yuan sank following reports of analysts skepticism regarding the effectiveness of China’s stimulus efforts. Despite coronavirus concerns, USD/JPY soared towards 112.00 yesterday with the yen sinking near 2% from Wednesday’s open.
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