Dollar higher than most G-10s as dollar’s decline runs out of steam
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FX Rates
June 4, 2020Rates 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/USD 1.1262 GBP/USD 1.2547 USD/CAD 1.3517 AUD/USD 0.6919 USD/JPY 108.79 USD/CNH 7.1150 USD/ILS 3.4619 USD/MXN 21.8263 USD/CHF 0.9580 USD/INR 75.5762
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USDThe dollar is mostly flat today after sliding 2.6% since May 25. The dollar is lower versus the euro and higher versus the pound and Canadian dollar. Jobless claims data released today showed jobless claims falling from last week, indicating that perhaps the worst of layoffs are over.GBP
Sterling tracked lower today as speculation about negative interest rates weighed on the currency along with concern over reaching a trade agreement by June 30. Investors are reducing sterling exposure in the options markets.
EUREuro initially advanced to the highest level since March, surging on a large ECB quantitative easing package announced today. The package adds another EUR 600B to the Pandemic Emergency Purchase Program which is higher than the 500B anticipated. This was announced in addition to a EUR 130B deal in Germany. The currency pared gains and is currently falling versus the dollar.CADThe Canadian dollar whipsawed as the US dollar reacted to the ECB announcement which extended the stimulus program. The loonie later weakened as oil prices retreated from session highs.ASIA/PACIFICAs equities in Asia fell, the yen advanced 0.1% versus the dollar. The Australian dollar fell as profit takers pulled out of the market after the currency hit a five month high versus the dollar.
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