Markets traded cautiously ahead of the European Central Bank decision and meeting earlier today. The central bank committed to a 25 bps rate hike for July and suggested that there could be an additional more hawkish hike of 50 bps in September. The Japanese yen strengthened for the first time in 5 days due to broad market risk sentiment.
-
FX Rates
June 9, 2022Rates 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 1.0697 GBP/USD 1.2545 USD/CAD 1.2582 AUD/USD 0.7149 USD/JPY 133.71 USD/CNH 6.6932 USD/ILS 3.3458 USD/MXN 19.5916 USD/CHF 0.9737 USD/INR 77.7625 USD/BRL 4.9107 USD/SGD 1.3769 USD/DKK 6.9540 USD/SEK 9.8137 USD/NOK 9.5065
-
USDUS dollar trades mixed strengthening versus EUR, GBP and CAD while weakening against the Japanese yen. Markets were focused on the outcome of the ECB meeting which committed to a 25bps for July.GBPSterling traded weaker ahead of the ECB meeting as investors speculate that the Bank of England will commit to an interest-rate hike by September at its meeting next week. GBPUSD has since pared losses trading only slightly lower for the trading session.EUREUR weakened ahead of ECB rate decision. At the ECB meeting, the central bank raised its inflation forecast for 2022 and committed to a dovish 25-bps rate hike in July. Additionally, the ECB hinted at a more hawkish pivot with a potential 50 bps hike in September.CAD
Ahead of the ECB meeting, USDCAD was trading down slightly. The currency pair has since reversed gains while oil trades sideways.
ASIA/PACIFICThe Japanese yen strengthened for the first time in 5 days ahead of risk events including US inflation data release for Friday.
For more analysis on FX markets or information regarding SVB's FX services:
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange-advisory
| Source: Bloomberg | |
This article is intended for U.S. audiences only. ©2023 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. |
