US dollar mixed as investors focus on stimulus and virus concerns
Concerns around coronavirus variants, including strands out of South Africa and Brazil along with the well-established variant out of the UK, have investors moving towards risk-off trading. Safe haven currencies including JPY and CHF are trading higher versus G-10 peers. Overnight, GBP and EUR first traded lower before turning, now trading slightly higher than yesterday's close.
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FX Rates
January 26, 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 1.2158 GBP/USD 1.3720 USD/CAD 1.2698 AUD/USD 0.7742 USD/JPY 103.64 USD/CNH 6.4723 USD/ILS 3.2632 USD/MXN 19.9915 USD/CHF 0.8877 USD/INR 72.9550
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USD
The greenback traded higher earlier in the session as markets moved towards risk-off amidst concerns of the Covid-19 variants. USD then reversed gains as traders evaluate the delayed US Covid-19 relief package along with a focus on the interest rate decision from the Fed tomorrow.
GBPGBP/USD was down 0.3% earlier in the trading session before reversing losses and trading up to a high of $1.3720. Data released out of the UK showed that the labor market fared better than expected during the lockdown in November. The vaccine rollout remains a concern for the country.
EUREUR is currently trading slightly better than the greenback. The common currency has been one of the biggest decliners this month retreating from multi-year highs.
CADUSD/CAD is trading about 0.2% lower as strong oil prices support the loonie. Markets will remain focused on the US Covid-19 relief package as well as the rate decision due from the Fed on Wednesday.
ASIA/PACIFICRisk-off trading supported the Japanese yen after news that President Biden said he would be open to negotiating the stimulus package. AUD/USD slipped slightly while NZD/USD trades flat.
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