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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.

  • FX Rates
    December 24, 2019

    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 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.

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

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About the Author

Cate Camerota is currently an FX Advisor at Silicon Valley Bank focusing on early stage and growth Technology names in New England and Eastern Canada. Prior to SVB, Cate worked in FX Sales/Trading at Wells Fargo and Citizens Bank where she supported a portfolio of Middle Market and Mid-Corp clients throughout the Northeast. Cate helped clients identify FX risk and implement strategic hedging programs.

Outside of work, Cate is involved with the Boys & Girls Club of Boston Friends Council, Ladies FORE Finance (women's golf league) and My Life My Choice.

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