Sterling leads G10 currencies as USD slides

Sterling leads G10 currencies as USD slides

The British pound hit levels not seen since April 2018 as the US dollar weakened across the board. Market dynamics including inflation pressure, vaccine optimism and weakening demand for global bonds has pushed the greenback lower. The Canadian dollar remains supported by oil prices as cold temperatures in the US are still impacting crude production.  

“A lot can happen in a year with the right mindset.”
Unknown
  • FX Rates
    February 18, 2021

    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 broadly lower amidst inflation pressures, optimism on vaccine rollout and lower demand for global bonds. US 10-year Treasuries retreated from one-year high of 1.33% trading around 1.29% today.
    GBP
    Optimism over vaccine rollout supports the British pound with GBP/USD rising to levels not seen since April 2018. The currency pair hit a high of 1.3986.
    EUR
    EUR/USD is recovering after hitting a low for the week of 1.2022. Lower demand for the US dollar has supported the common currency.
    CAD
    USD/CAD hit a session low of 1.2665 as oil prices remain strong and the US dollar trades weaker across the board. Freezing temperatures in the US have taken almost 40% of US crude production offline resulting in higher oil prices.
    ASIA/PACIFIC
    USD/JPY is trading 0.2% lower on broad market dynamics of a lower greenback. AUD/USD reversed a two-day losing streak following data that showed the Australian jobless rate fell more than expected last month.
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/trends-insights/foreign-exchange-advisory

Subscribe to receive the Daily FX Update in your inbox.

By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Notice. If you have privacy questions, you may contact us at PrivacyOffice@svb.com. You can withdraw your consent at any time.

Cate Camerota
WRITTEN BY
Cate Camerota

Insights from SVB Industry Experts

 
SVB experts provide our customers with industry insights, proprietary research and insightful content. Check out these related articles that may be of interest to you.

US dollar reversed two-day decline following broader risk sentiment

 

Daily FX Update: USD remains under pressure as markets maintain risk appetite

 

Daily FX Update: Risk-on trading supports commodity-linked currencies

 

Daily FX Update: Inflation concerns push the USD higher

 

Dollar gains vs. other safe havens

 

Dollar trades at lowest in 2 weeks