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FX Update

Dollar continues strong bias

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A low volume day yesterday due to the U.S. Thanksgiving holiday allowed markets to follow through with trading patterns from earlier in the week. The dollar remains strong, the pound remains in a tight range and the euro moved lower.

“You can tell you ate too much for Thanksgiving when you have to let your bathrobe out.” 

Jay Leno
  • FX Rates
    November 29, 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
    In the absence of macroeconomic drivers the dollar held  strong at its highest levels in over two weeks. Volatilities across G-10 currencies are mostly lower.

    The pound trades comfortably below $1.29 after traders unwound gains from the

    Recent positive electoral news. Markets await direction from results of the December 12th general election.
    The euro swung lower despite German unemployment surprising to the upside. German retail sales were weaker than expected showing a 1.9% m/o/m decline, pushing the euro back below $1.10.
    Canadian GDP came in weaker than expected at 1.3%, slowing from 3.7% in Q2, pushing the loonie lower versus the dollar.

    The dollar versus the yen marched to six-month fresh highs based on broad USD strength.

    Trading was muted as investors continue to monitor U.S.-China trade negotiations.
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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.

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