Dollar set to finish trading higher for a second week

Dollar set to finish trading higher for a second week

The US dollar is set to end the week higher than its peers. Sterling leads losses for G10 currencies as traders hold onto concerns over the viruses' impact to the local economy.

 

 

“Life is good especially on a Friday.” 
Unknown
  • FX Rates
    July 23, 2021

    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 US dollar is trading higher today, set to strengthen for a second week. The greenback is supported by ongoing concerns of the virus and as traders bet on the Fed being closer to tapering than other major central banks.

    GBP

    Sterling leads losses for G10 currencies following data that showed the economy slowed in July as the resurgence of the virus caused widespread staff shortages.

    EUR
    EUR/USD remains largely unchanged, keeping a tight range of 1.1755-1.1786. Concerns remain on the euro-area outlook as businesses caution over shortages of raw materials, delivery delays and rising costs.
    CAD

    USD/CAD is trading within a tight range of 1.2555-1.2582. Bank of Canada announced that they would allow their employees to work remotely as much as 50% of the time. The central bank doesn’t expect a normal office ecosystem until 2022.

    ASIA/PACIFIC

    USD/JPY is trading 0.3% higher today, with the pair up 0.5% for the week. NZD/USD is trading slightly higher after a travel bubble with Australia was suspended for at least 8 weeks.

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/trends-insights/foreign-exchange-advisory

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 Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.

Cate Camerota
WRITTEN BY
Cate Camerota

Insights from SVB Industry Experts

 
SVB experts provide our customers with industry insights, proprietary research and insightful content. Check out these related articles that may be of interest to you.

Risk-on trading following FOMC meeting

 

Daily FX Update: Busy FX markets ahead of today's Fed meeting

 

Daily FX Update: US snaps three-day winning streak

 

Daily FX Update: US dollar trading at one-month highs

 

Daily FX Update: Dollar gains on “triple-witching”

 

Dollar takes back yesterday’s losses