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Bank of England indicates interest rates to remain above zero while Fed says bond buying to continue
"I think it is possible for ordinary people to choose to be extraordinary."
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FX Rates
January 13, 2021Rates 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 1.2165 GBP/USD 1.3674 USD/CAD 1.2724 AUD/USD 0.7737 USD/JPY 103.87 USD/CNH 6.47 USD/ILS 3.1391 USD/MXN 19.7545 USD/CHF 0.8877 USD/INR 73.15
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USDFederal Reserve officials played down the idea of cutting asset purchases stating that is was too early to discuss changes in balance sheet policy as the country needs to get through the pandemic first. Asset purchases are likely to continue until the country is on stronger footing.GBPThe British pound briefly traded at 1.37 overnight - the strongest level since Q2 2018. The strength in the pound comes from some relief the Bank of England may not cut interest rates to levels below zero. FX traders will now turn to the impact of the Covid-related lockdown and its longer-term impact on the UK economy.EURThe euro is weaker this morning as Italy's government is at risk of collapsing as the former PM threatens to withdraw his support. Ex-PM Renzi said his group will decide today whether to upset Conte’s government – Renzi’s party threatened “if you want us to be in government, listen to our ideas.”CAD
The Canadian dollar is stronger again today as FX traders see the price of oil stabilizing at higher levels.
ASIA/PACIFICThe Australian dollar weakened after Japan and China both announced more virus-related curbs.
Chinese authorities set the daily renminbi fixing at a level only slightly stronger than yesterday in an attempt to slow their currency's appreciation. The renminbi is up 8% vs. the US dollar over the past 6 months.
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| Source: Bloomberg | |
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