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Commodity currencies outperform; dollar mixed
The dollar is mixed versus its peers as the pound and commodity-linked currencies outperform. German courts ruling on the ECB’s bond buying program sent the euro much lower. Overall, improved risk sentiment have equities opening up.
“Courage doesn't always roar. Sometimes courage is the little voice at the end of the day that says I'll try again tomorrow.”
Mary Anne Radmacher, American writer
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FX Rates
May 5, 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 1.087 GBP/USD 1.2474 USD/CAD 1.4018 AUD/USD 0.6465 USD/JPY 106.57 USD/CNH 7.1136 USD/ILS 3.5177 USD/MXN 23.8384 USD/CHF 0.9690 USD/INR 75.6338
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USDThe dollar is higher versus the euro and mixed versus other currencies as risk appetite returns. The dollar is set to climb for a third session today on initial optimism that cities are beginning to ease lockdown measures.GBPSterling has gained slightly versus the US dollar. Weak UK Data including shrinking UK services and new-car registrations weighed on the currency. Markets await Thursday’s BoE meeting and are listening for signs of additional stimulus measures.EURThe euro took a hit as German courts ruled Bundesbank’s participation in the ECB Public Sector Purchase Program unconstitutional. Speculative long positions were liquidated dragging down the currency.CADThe loonie gained support from rising oil prices, the USD/CAD currency pair is trading down 0.4%.ASIA/PACIFIC
The offshore yuan (CNH) is eyeing a record low as tensions rise between the US and China. Speculation of a fresh round of retaliatory tariffs sent the yuan within 1% of its all time low.
Japan remains on holiday through tomorrow and is trading tightly around 106.7.
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Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory
See all of SVB's latest FX information and commentary at www.svb.com/trends-insights/foreign-exchange-advisory