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Dollar lower as foreign equities climb

Foreign equities climbed in-line with US equities as the risk-on mood continues into year-end. The dollar is lower across the board, particularly against the euro and UK pound. China saw a pick-up in industrial profits. In Europe, a gauge of confidence in investment-grade debt hit its highest level since 2007.

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  • FX Rates
    December 27, 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 declined across the board, as the risk-on mood continues to benefit foreign currencies. The dollar is not benefiting from news of Alaska’s Republican senator signaling uncertainty and four other Republicans seen as possible votes to impeach. Trump’s re-election is taken as bullish news for the financial markets, his impeachment as bearish news.


    A rise in the UK pound is helped by new European Commission President Ursula von der Leyen saying that the EU may need to extend the 2020 year-end deadline to conclude talks about a new trade relationship with the UK.


    The euro gained in thin liquidity markets as large speculators covered short positions. Economic data and geopolitical announcements were light as we head into year-end.


    The Canadian dollar rallied to its highest level since October amid overall weakness in the US dollar. Canadian 2-year yields continue to exceed US yields. Oil prices edged higher.


    The Chinese yuan and Japanese yen held steady. The month-long positive trend for Asian emerging market currencies remains intact.

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About the Author

Scott Petruska is Chief Currency Strategist and senior advisor for Silicon Valley Bank’s global financial services group, and is based in Boston, MA. He advises clients on currency and interest rate hedging strategies, and helps them with other aspects of global banking. He regularly writes blogs on topics covering the global financial markets, conducts client seminars and webinars, and speaks at regional financial conferences.

Petruska has more than 30 years experience in the currency and interest rate markets, and has lived and worked in Boston, Chicago, New York City, Singapore and Tokyo. Prior to joining SVB in 2009, he worked at several large international financial institutions, including National Westminster Bank, Irving Trust, Bank of New York, State Street Bank and Commerce Bank. He has been an institutional trader, product developer, analyst, salesperson and advisor.

Petruska has been awarded several professional designations, including the CFA (Chartered Financial Analyst), FRM (Financial Risk Manager) and CMT (Certified Market Technician). He earned his undergraduate degree in Finance & Banking from the University of Wisconsin.

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