Bloomberg dollar index fell to a three-week low as markets moved towards risk-on trading. Stock prices strengthened while 10-year US yields fell 1bp to 1.59%. Commodity-linked currencies led gains for G-10 currencies with AUD and NZD strengthening as much as 1%.
"It is always the simple that produces the marvelous."
-
FX Rates
October 19, 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 1.1644 GBP/USD 1.3810 USD/CAD 1.2366 AUD/USD 0.7460 USD/JPY 114.22 USD/CNH 6.3875 USD/ILS 3.2152 USD/MXN 20.3208 USD/CHF 0.9203 USD/INR 75.3475 USD/BRL 5.5538 USD/SGD 1.3446 USD/DKK 6.3888 USD/SEK 8.6216 USD/NOK 8.3750
-
USD
The US dollar index is 0.5% lower as traders begin speculating that this could be a reverse of a strong dollar trend. The greenback hit year-to-date highs in recent weeks and risk-on trading today has pushed the dollar lower.
GBPSterling hit its highest level since Sept 16 strengthening to 1.3816 almost +0.7%. This move higher followed comments from the Bank of England Governor Andrew Bailey.
EUREUR/USD continues to strengthen hitting a high of 1.1669 earlier in the session. The options market is suggesting that the pair could break through spot key resistance levels.
CADUSD/CAD is trading only slightly lower following a reverse in trend due to WTI crude prices briefly weakening. USD/CAD is down just 0.1% after hitting lows of 1.2311 earlier in the session.
ASIA/PACIFICNZD and AUD along with other commodity-linked currencies led gains amongst the G-10 currencies. NZD/USD strengthened as much as 1% following momentum after a strong release of CPI. The Australian dollar gained 0.9%.
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/foreign-exchange-advisory
| 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. |
