Quiet trading ahead of the holiday; US dollar higher against most peers
Muted trading session for currencies as we head into the Christmas holiday. Most notable moves are the Canadian dollar, which fell against USD, and the Norwegian krone, which strengthened against USD.
December 24, 2019
EUR/USD 1.1081 GBP/USD 1.2952 USD/CAD 1.3158 AUD/USD 0.6922 USD/JPY 109.40 USD/CNH 7.0084 USD/ILS 3.4712 USD/MXN 18.9290 USD/CHF 0.9817 USD/INR 71.2660
The US dollar is up slightly, trading around its strongest levels seen since December 11th. Early in the week, G10 currency volatility slid to its lowest levels since August 2014.GBP
Sterling is on track to reverse its five day losing streak, but is only up about 0.1%. On Monday, GBPUSD touched its lowest level in nearly a month.EUR
EURUSD remains range-bound trading within the $1.10 handle. The currency pair has found support at the December 20th low of 1.1066.CAD
USDCAD is trading higher near 1.3160, the Canadian dollar trading weaker than more of its peers. There are no major data releases from Canada through the end of the year leaving the currency vulnerable to broader market trends.ASIA/PACIFIC
Bank of Japan meeting minutes for October showed that most board members viewed downside risks to overseas economies as a significant factor. USDJPY remains largely unchanged, trading around 109.40.
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