US dollar down against peers as debate on US fiscal stimulus continues

Commodity-linked currencies advance as gold prices trade above $2,000/oz. and WTI crude oil strengthens above $42/bbl. In the US, Democrats and Republicans continue talks over the US fiscal stimulus deal.
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  • FX Rates
    August 5, 2020

    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 Bloomberg Dollar Index fell for a second day amidst escalating tensions in the Middle East after an explosion in Beirut and delay on US fiscal stimulus decision. Commodity-linked currencies advanced versus the greenback including the Norwegian krone which strengthened more than 1%.

    GBP

    Sterling reverses its three-day losing streak as the market anticipates a Bank of England monetary policy decision tomorrow. GBP/USD hit a high of 1.3149 and continues to hold above the 1.31 level.

    EUR
    Eurozone PMI's were released for the month of July signaling growth in services and good-producing. EUR/USD rallies on this data trading to a high of 1.1881.
    CAD

    The Canadian dollar is on track for a fourth straight session of gains with the currency pair trading around 1.3250. WTI oil climbed to a five-month high as oil prices traded above $42/bbl.

    ASIA/PACIFIC
    USD/JPY fell below the 106 handle as the US dollar weakened across the board. The Japanese yen is broadly lower against other peers as investors shift towards risk-on trading.
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Cate Camerota
WRITTEN BY
Cate Camerota

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