FX markets trade in tight range ahead of Easter holiday

FX markets trade in tight range ahead of Easter holiday

Major currency pairs are trading within tight ranges due to lower volumes ahead of the holiday weekend. The US dollar is mixed, strongest against CAD and AUD and weakest against MXN and ILS. Several nations including Canada and France have announced new lockdowns in an effort to control the Covid pandemic.

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  • FX Rates
    April 1, 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
    The dollar index is largely unchanged after trading as much as 0.2% higher earlier overnight. US 10-year Treasury yields dropped 2 bps to 1.71% currently.
    GBP

    GBP/USD is trading slightly lower amid broad USD strength. Sterling finished its best quarter against the euro since 2015.

    EUR
    The common currency has declined against the USD for three consecutive months. The latest news out of the EU is that French President Emmanuel Macron announced a four-week shutdown, closing schools and businesses due to higher Covid cases.
    CAD

    USD/CAD is trading higher following news that the province of Ontario will return to lockdown on Saturday. The loonie is also under pressure as investors await today's announcement from OPEC+ meeting regarding oil output.

    ASIA/PACIFIC

    The Australian dollar leads losses for G-10 currencies after breaking below a support level which triggered stop losses. AUD/USD lost as much as 0.9%, falling to the lowest level since December 23.

     

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Cate Camerota
WRITTEN BY
Cate Camerota

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