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FX Update

The US dollar is slightly stronger vs. other safe-haven currencies as markets look to US/China trade negotiations


The US and China are still hammering out a “Phase-1” deal as part of a hopefully larger trade agreement. FX markets are listless as they await confirmation on either a US/China trade deal and/or the Brexit vote. Safe-haven Japanese yen and Swiss franc lost ground as traders closed risk-off positions in anticipation of positive news on the trade front.

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  • FX Rates
    November 19, 2019

    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 US dollar is flat despite October Building Permits coming in better than expected. Continuing the Fed watch, Boston’s Eric Rosengren warned against spurring inflation with overly aggressive policy easing, stating that he did not “think there’s a big cost to being a little below 2%”.


    The British pound drifted lower as financial markets await a live televised debate for main candidates for the December 12 General Election. Yesterday, the pound strengthened in hopes the Conservative party would win a majority - resulting in Boris Johnson’s Brexit deal finally making its way through the UK parliament in the coming months.


    The euro held recent gains as some FX traders began to close bearish positions. With the US/China trade talks dragging on and Brexit in the hands of the British voters, the euro has gained since the October lows and looks to push toward 1.11.


    The Canadian dollar lost some ground as oil prices continued to slide. The lack of a trade agreement between the US and China as well as higher oil inventories has caused the price of oil to fall 3% over the past 24 hours.


    Tensions in Hong Kong continue to take focus in the region. Current leader Carrie Lam ordered police to resolve the standoff at the Polytechnic University peacefully and urged protesters to cooperate.
    The Australian dollar is stronger today despite central bank minutes revealing a case for cutting interest rates. Japan’s yen strengthened.

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About the Author

Peter Compton is a senior foreign exchange advisor for Silicon Valley Bank’s global financial services group, and has been with SVB since 2007. He helps clients design and implement hedging strategies for foreign currency exposures. Compton has over 20 years experience in global financial markets.

Before joining Silicon Valley Bank, Compton spent seven years working in the European equity markets. Based in Germany, he spent four years with HSBC and three years as Head of Equity Sales for ABN-AMRO in Frankfurt. Prior to his work overseas, Compton spent seven years with Bank of America in San Francisco as an equity and fixed income derivative specialist.

Compton holds a bachelor's degree in business and management from the University of Rhode Island and a Master's of Business Administration from San Francisco State University.
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