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    • Daily FX Update

    Dollar slides to end week, equities stronger

    Kathryn Garvey Headshot
    Kathryn Garvey
    • September 10, 2021
    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.
    "If we learn nothing else from this tragedy, we learn that life is short and there is no time for hate."
    Sandy Dahl, wife of United Flight 93 pilot Jason Dahl
    • 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.

      EUR/USD1.1824
      GBP/USD1.3869
      USD/CAD1.2592
      AUD/USD0.7400
      USD/JPY109.92
      USD/CNH6.4318
      USD/ILS3.1980
      USD/MXN19.8799
      USD/CHF0.9178
      USD/INR73.4975
      USD/BRL5.2160
      USD/SGD1.3391
      USD/DKK6.2889
      USD/SEK8.6119
      USD/NOK8.6234

    • 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.  

      GBP

      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.

      EUR
      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.
      CAD
      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.
      ASIA/PACIFIC

      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.

    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

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    Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.

     Source: Bloomberg
     

    This article is intended for U.S. audiences only.

    ©2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license.

    The views expressed in this email are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.

    Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources.

    Kathryn Garvey
    WRITTEN BY
    Kathryn Garvey
    • View Author Profile
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    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.

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