Risk on sentiment keeps dollar lower

The greenback is lower versus all G-10 peers with the exception of the Japanese yen and Swiss franc. Despite civil unrest across the United States, investors focus on the reopening of some economies and additional stimulus. European investors look ahead to the Thursday when UK-EU trade negotiations begin, and an ECB meeting is likely to provide more stimulus.

"It's up to all of us—Black, white, everyone—no matter how well-meaning we think we might be, to do the honest, uncomfortable work of rooting it out. It starts with self-examination and listening to those whose lives are different from our own. It ends with justice, compassion, and empathy that manifests in our lives and on our streets."
Michelle Obama
  • FX Rates
    June 2, 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 slid as equities traders looked past immense social unrest in the states to signs of additional stimulus. The dollar slid for the fourth session in a row. The labor report out on Friday is expected to show unemployment top 19% for May – the highest since the 1930's.
    GBP

    Sterling also rose versus the dollar helped by a report indicating the UK is willing to compromise with the EU during trade negotiations that are set to resume on Thursday.

    EUR

    The euro carried higher for a sixth day amid unwinding of carry trades, and momentum ahead of Thursday’s ECB meeting where they are expected to expand stimulus measures by 500 billion euros.

    CAD
    The Canadian dollar rose to three-month highs versus the dollar as oil prices continued to climb and the pair carried through a technical support line yesterday.
    ASIA/PACIFIC

    A key technical level triggered sales on the Japanese yen and the pair is trading higher at 108.47. The Australian dollar also outperformed rising 1% to a new four-month high.

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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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