FX Update

Dollar lower, equities higher on positive trade comments

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Positive comments by Trump advisers on the progress with US-China ‘Phase 1’ trade negotiations is pushing global equities higher. The dollar index edged lower, but ended the week slightly higher. Bond yields moved higher.

“Yesterday is history. Tomorrow is a mystery. Today is a gift. That’s why we call it ‘The Present.’"
Eleanor Roosevelt
  • FX Rates
    November 15, 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 edged lower overnight. Positive trade comments fueled a slight risk-on mood, pushing the dollar lower. The Scandi currencies were the best performers of the majors.


    The UK pound whipped around overnight within a 20 pip range and is virtually unchanged from yesterday’s close. It benefited the least of all the major currencies overnight from the risk-on sentiment in the markets. Traders focus on yesterday’s weak UK Consumer Sales data, as households may finally be giving in to Brexit uncertainty.

    Although down on the week, the euro is finishing on a positive note. Trading is characterized by low volatility within a tight range. Traders await next week’s EZ manufacturing data, which will help determine if Europe is heading towards a recovery given some recent positive signals. German bund yields trade at -0.33%, much higher than August’s lows at -0.72%.

    The Canadian dollar reversed early gains to end virtually unchanged. For the week, the loonie has lost about 0.50% versus the US dollar and is one of the weakest of the G-10 currencies. BOC Governor Stephen Poloz’s latest speech failed to provide hints as to further monetary policy easing, as he gave a more optimistic outlook for wage growth.


    The USD/CNY currency pair is trading just over 7/USD and is on track for its first weekly gain for nearly two months. Traders are showing frustration with ongoing trade uncertainty and China’s decelerating economy.

    The Japanese yen weakened overnight, as the positive trade comments depressed its safe-haven status.

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Scott Petruska, CFA
Scott Petruska, CFA

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