Dollar mixed as control of senate hangs in the balance

Dollar mixed as control of senate hangs in the balance

The dollar and equities fell on the expectation that the Democrats could take the Senate and that a blue sweep can potentially lead to a weaker dollar and upward pressure on inflation and tighter regulations on tech firms.

“If you do not change direction, you may end up where you are heading.”

Lau Tzu
  • FX Rates
    January 6, 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 approached 2018 lows as Treasury yields and commodity prices rose as results from Georgia’s senate runoff election show Raphael Warnock projected to flip the first seat, and the second seat still too close to call. Democratic control in the senate would provide a smoother runway for President-elect Biden to enact policy changes. Private payrolls posted the first drop since April as Covid impacts job growth.


    Sterling is down slightly versus the dollar with Monday’s high being near term resistance. The UK has surpassed 60,000 Covid cases a day as the country sits still in its third lockdown.

    The euro trades to the highest level since April 2018. As members of the EU have struggled to vaccinate populations, Angela Merkel has an emergency meeting today to speed up the vaccine program in Germany as deaths continue to surge.
    The loonie is little changed, yet slightly weaker versus the greenback amid profit taking at the lowest level since April of 2018.

    The yen lost versus the dollar after touching 9-month strength.

    Tensions between the US and China increased yesterday as Trump ordered the banning of US transactions with four Chinese payment apps. In response, the NYSE said it would delist such groups, however quickly reversed its decision following intervention from the US treasury secretary.

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Kathryn Garvey
Kathryn Garvey

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