EUR climbs higher following decision from ECB

EUR climbs higher following decision from ECB

The US dollar remains weak against peers after trading lower yesterday. Demand for safe haven assets waned causing downward pressure on the greenback. News this morning showed that the European Central Bank has left rates unchanged. This announcement supports the common currency with EUR/USD breaking above 1.18.

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  • FX Rates
    July 22, 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

    US dollar weakens as demand for haven assets fade. Commodity-linked currencies lead gains among G-10 currencies as Treasury yields and US equities climb.

    GBP

    Sterling holds above 1.37 amidst broad USD weakness. The British pound gained momentum following the decision by the ECB.

    EUR

    EUR/USD trading slightly higher following release from the European Central Bank that it will keep its main refinancing rate unchanged. The central bank stated that it would keep rates at current levels until forecasts show progress.

    CAD

    USD/CAD holds lower after dropping near 1% during yesterday’s trading session. WTI prices hold above $70/bbl.

    ASIA/PACIFIC

    USD/JPY trades lower on broad USD weakness. Australian dollar is trading stronger despite lockdowns in the nation. Data released showed that Australia had a record high shipment for iron ore supporting the local economy.

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Cate Camerota
WRITTEN BY
Cate Camerota

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