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.  

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  • 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.
    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/USD is recovering after hitting a low for the week of 1.2022. Lower demand for the US dollar has supported the common currency.
    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.
    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.
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Cate Camerota
Cate Camerota

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