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.
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  • FX Rates
    May 5, 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 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.
    Sterling 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.
    The 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.
    The loonie gained support from rising oil prices, the USD/CAD currency pair is trading down 0.4%.

    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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Kathryn Garvey
Kathryn Garvey

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