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A dollar index (BBDXY) is weaker this morning following US Treasury yields move lower after yesterday’s surge higher. The ECB again walks back from last week's overly hawkish comments. The Canadian dollar is stronger as oil prices hang on to recent gains and the world worries over energy supplies on concerns of a Russian invasion of Ukraine.
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FX Rates
February 11, 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 1.1391 GBP/USD 1.3568 USD/CAD 1.2713 AUD/USD 0.7158 USD/JPY 115.88 USD/CNH 6.3567 USD/ILS 3.2373 USD/MXN 20.4364 USD/CHF 0.9266 USD/INR 75.3788 USD/BRL 5.2198 USD/SGD 1.3441 USD/DKK 6.5300 USD/SEK 9.2684 USD/NOK 8.8475
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USD
The dollar surged yesterday afternoon after Fed speaker James Bullard called for 100bps of rate increases following yesterday morning's higher than expected 7.5% inflation reading for January. US Treasury yields shot higher throughout trading yesterday and have come down some this morning. A dollar index (BBDXY) is weaker this morning following US Treasury yields lower.
University of Michigan Sentiment Index for February will be released later this morning.
GBPThe British pound strengthened after Q4 GDP data (+6.5%) came in slightly better than expected (+6.4%). Financial markets now expect the Bank of England to raise their benchmark interest rate a total of 0.75% over the next two scheduled meetings (March and May).
EURThe euro is stronger this morning on overall dollar weakness. Also, the European Central Bank’s head, Lagarde, warned that the ECB would harm eurozone recovery if it rushed to tighten monetary policy. The ECB has been repositioning itself after the market misinterpreted the hawkish tone struck last week.
CADThe Canadian dollar is stronger in morning trading as the price of oil holds onto recent highs. With the world watching Russian troop build-ups on the Ukraine border there is concern for the overall global supply of energy thereby keeping prices high.
ASIA/PACIFICThe Aussie dollar found support at 0.7100 and is now up vs. the US dollar. FX traders pointed to US Treasury yields coming off the boil as the reason for stronger AUD.
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
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| Source: Bloomberg | |
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