Dollar rises as risk-off mood persists

Stalled stimulus talks and second-wave lockdown measures in Europe prop up the US dollar. Covid cases continue to rise across the UK and Europe with major cities reinstating serious restrictions and curfews. Treasury Secretary Mnuchin’s comments yesterday deflated hopes of a second round of stimulus ahead of the election as the White House, Republicans and Democrats continue to play the blame game.

“Healthy citizens are the greatest asset any country can have.” 

Winston Churchill
  • FX Rates
    October 15, 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 against all G-10 peers as equity shares slump and second wave Covid concerns rise in Europe. US Treasury Secretary, Steven Mnuchin commented yesterday that a second round of stimulus ahead of the Presidential election “would be difficult”.


    Despite being the big gainer yesterday, the pound gave up 0.8% after the government increased the Covid alert level and imposed new restrictions starting on Saturday.


    The euro pulled back as bond yields drop and curfews are imposed on large cities. The aggressive drop could change the pair's previous bullish trend if the pair stabilizes below the 1.17 level.


    As risk sentiment deteriorated, the loonie slipped the most in three weeks posting a 0.8% loss versus the dollar for the month. ADP payroll data showed Canadian payrolls fell 240.8K in September.


    The yen trades mostly sideways near the 105 psychological level. The Chinese yuan drops slightly as the PBOC injects liquidity to keep recovery on track.

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Kathryn Garvey
Kathryn Garvey

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