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

Cate Camerota

August 5, 2020

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.

EUR/USD 1.1887
GBP/USD 1.3139
USD/CAD 1.3254
AUD/USD 0.7230
USD/JPY 105.4400
USD/CNH 6.9381
USD/ILS 3.4049
USD/MXN 22.4568
USD/CHF 0.9065
USD/INR 74.9350
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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Source: Bloomberg

This article is intended for U.S. audiences only.

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WRITTEN BY

Cate Camerota

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