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
1.866.553.3481
cardservices@svb.com

For other questions contact Client Service:

1.800.774.7390
clientservice@svb.com

Find a location

Technical or site issue?

Daily
FX Update

Dollar strong amid a slight risk-on environment driven by U.S. China trade optimism

 | 

Major drivers in the market today include positive news out of U.S. – China trade negotiations. Both sides agreed to continue their ‘phase 1’ talks ahead of the December 15th deadline. Polls out of the U.K. showed the Conservative party’s lead narrowing versus the Labour party, sending the pound lower.
“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
Oprah Winfrey
  • FX Rates
    November 26, 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 near six-week highs amid trade optimism. U.S. and Chinese officials are working on the ‘phase 1’ deal, both sides agreeing to continue to work towards the deal.  If not reached before the December 15th deadline, President Trump will have to decide whether or not to impose additional tariffs. In his final remarks before the Fed enters a quiet period, Jerome Powell said that their current monetary stance is appropriate and that the central bank is not on a preset course. New Home sales and consumer confidence figures are due out today.

    GBP

    Latest UK poll results show the Conservative party’s lead narrowing for the December 12th general election. Investors sold off the pound on fear of a Labour government under opposition Jeremy Corbyn. A Conservative win reduces political and Brexit uncertainty, and may be positive for sterling in the short term, while a Labour majority will renew Brexit uncertainty.

    EUR

    The euro advanced slightly versus major counterparts and is trading in a tight range around the 12-day low to the U.S. dollar. German consumer confidence surprised to the upside this morning. ECB’s Vilroy reiterated in a statement that the current low interest rates will continue to sustain the Eurozone economy.

    CAD

    The Canadian dollar trimmed some losses versus the U.S. dollar as WTI ticked 0.5% higher.

    ASIA/PACIFIC

    After comments out of U.S. China trade negations sent USDJPY to a two week high, the Japanese yen gained some strength and steadied just under 109. The Chinese yuan also ticked higher after the trade call in which both sides agreed to continue talks to work towards a 'phase 1' deal.

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 fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

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 privacy@svb.com. You can withdraw your consent at any time.

About the Author

Kathryn Garvey is a foreign exchange Associate for Silicon Valley Bank’s global financial services group and has been with SVB since July of 2018. Prior to SVB Kathryn completed co-op internships at Innosight, Market Metrics, and The TJX Companies.

Garvey graduated from Northeastern University in 2018 with a bachelor’s degree in finance, and marketing with elective coursework in entrepreneurship and innovation from Northeastern University.

Follow Author on LinkedIn

Now Let's Get Started

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

Connect with Us