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Daily
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.
    GBP

    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.
    EUR
    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.
    CAD
    Canadian GDP came in weaker than expected at 1.3%, slowing from 3.7% in Q2, pushing the loonie lower versus the dollar.
    ASIA/PACIFIC

    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.
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

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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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