.png){kind=logo}
Markets shifted towards a weaker dollar with JPY leading G-10 gains. President Biden had several meetings in Brussels yesterday. Key headlines include the US and EU pushing to move away from Russian gas, Biden’s appeal to remove Russia from G-20, and EU committing to close Russia sanctions loopholes. Data out of the UK showed that retail sales were worse than forecasted.
“You have to dance a little bit before you step out into the world each day because it changes the way you walk.”
-
FX Rates
March 25, 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 1.1012 GBP/USD 1.3187 USD/CAD 1.2522 AUD/USD 0.7508 USD/JPY 122.13 USD/CNH 6.3784 USD/ILS 3.2116 USD/MXN 20.0000 USD/CHF 0.9285 USD/INR 76.2100 USD/BRL 4.7835 USD/SGD 1.3570 USD/DKK 6.7535 USD/SEK 9.3845 USD/NOK 8.6300
-
USD
US dollar declined against its peers. Key takeaways from global meetings yesterday include commentary from the EU stating it’s ready to close loopholes on Russia sanctions. US President Biden requested that Russia be removed from G-20 due to the war in Ukraine.
GBPSterling is trading largely unchanged. Earlier in the session UK retail sales unexpectedly fell for the month of February.
EUREUR broke above the 1.10 level trading slightly higher. The US and EU are pushing to move towards liquefied natural gas in an effort to replace Russian gas.CADUSD/CAD remains steady around the 1.2530 level. WTI crude fell 2.6%, reversing its biggest weekly gain in the last three weeks.
ASIA/PACIFICThe Japanese yen reverses its 5-day losing streak. The Bank of Japan refrained from interfering in the debt market even as yields trade higher which historically resulted in action.
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/trends-insights/foreign-exchange-advisory
Subscribe to receive the Daily FX Update in your inbox.
By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
| Source: Bloomberg | |
This article is intended for U.S. audiences only. ©2022 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. |
