Dollar slides to end week, equities stronger

Dollar slides to end week, equities stronger

The dollar trades slightly lower without much impetus for direction to close the week. Risk sentiment improved overnight amid yield rebounds in the 10-year note and as concerns for the delta variant persist.
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  • FX Rates
    September 10, 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 dollar slid again amid improved risk tone. Data out today includes August PPI where prices showed an increase of 1% month over month citing challenges across production pipeline.  


    The pound rose despite mixed economic data out of the UK as markets turn focus towards September BoE meeting. The pair trades within a tight range ahead of GDP figures and trade balance.

    Euro gained slightly versus the dollar to 1.1834 ahead of the 55DMA and nearby support of 1.1809. Markets digest the dovish recalibration of the ECB’s PEPP yesterday. Chairwoman Christine Lagarde commented that the timing of the end of stimulus and other guidance would be discussed at the December meeting.
    Canadian unemployment data showed job growth beating estimates: 90.2K jobs added versus 68.2K forecast. The Canadian dollar strengthened 0.6% on the news.

    USD/JPY rose amid higher yields and rising commodity prices.

    US Pres. Joe Biden spoke to China’s Xi Jinping for the first time since February and raised hopes for an improvement in relations between the two countries.

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Kathryn Garvey
Kathryn Garvey

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