Get started with SVB

Are you an innovation company or investor seeking banking services to help you move bold ideas forward, fast?

Let's get started

Existing SVB clients

Get quick answers from our support page.

For help with commercial cards

For other questions contact Client Service:


Find a location

Technical or site issue?

Dollar lower on global equity rebound

A return to risk-on mode fueled a rebound in global equity markets and foreign currencies. Traders reacted positively to a combination of China’s injection of liquidity into its banking system and a reassessment of the scope of the coronavirus. Supporting the optimism was yesterday’s turnaround rally in US equities and last night’s Democratic Party debacle in Iowa, which boosted pro-business Trump’s chances in the November presidential election.

“Human happiness and moral duty are inseparably connected.”
George Washington, elected on Feb 4, 1789 as the first president of the U.S.
  • FX Rates
    February 4, 2020

    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 as a risk-on mood prevailed overnight. Several factors boosted the optimism, from China’s injection of liquidity to last night’s Democratic Party debacle. Currencies which are related to global trade – CAD, AUD, BRL, CNY – performed well, safe-haven currencies – JPY, CHF, and the US dollar -- underperformed.


    After an early sell-off, the UK pound rallied after release of UK Construction PMI, which unexpectedly rose to an eight-month high in January.


    The euro dipped slightly with a dearth of Eurozone data that would impact markets.


    The Canadian dollar made gains from the risk-on sentiment in the markets, and a technical correction from the recent aggressive sell-off in the loonie.


    A move higher in Chinese equities triggered a rally in equities worldwide. The USDCNY is back below 7 per dollar, the People’s Bank of China setting the CNY rate slightly better than expected.

    The safe-haven Japanese yen weakened by nearly 0.50% , as markets move into risk-on mode.

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at
See all of SVB's latest FX information and commentary at

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 Policy. If you have privacy questions, you may contact us at You can withdraw your consent at any time.

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.

Follow Author on Twitter | LinkedIn

Now Let's Get Started

See how SVB makes next happen now for entrepreneurs like you.

Connect with Us