US dollar mixed following global central bank decisions

US dollar mixed following global central bank decisions

The Bank of Canada decided to lower its asset purchases by a quarter and moved a potential rate hike into next year vs. the previous expectation for 2023. The European Central Bank met earlier today and announced that it will keep its stimulus tools unchanged. The US dollar is trading mixed against its peers and largely unchanged.

“The sky isn’t the limit – the sky has no limit.”
Sarah Barker, Astrophysicist
  • FX Rates
    April 22, 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 greenback is trading mixed against its peers following news from European and Canadian central banks. The market will be focused on commentary out of the US central bank next week.
    Ahead of the European Central Bank decision, sterling rose against the USD. The currency pair has since reversed direction trading lower and bouncing off daily low of 1.3859.
    The European Central Bank announced that it would keep its stimulus tools unchanged in an effort to support a rebound in the economy later this year. The deposit rate was left unchanged at -0.5% as expected by the market. EUR/USD was largely unchanged prior to the announcement trading slightly higher as of this writing.
    The Canadian dollar surged the most in 10 months following Bank of Canada's announcement that the central bank will lower asset purchases by a quarter and indicated that a rate hike could come as early as next year.  CAD strengthened as much as 1.2% yesterday but has since reversed gains with USD/CAD trading slightly higher on broad USD strength.
    USD/JPY trades largely unchanged as the demand for haven assets grow on continued concern for the coronavirus. Earlier in the session, USD/JPY fell as much as 0.2% hitting a low of 107.82.
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
See all of SVB's latest FX information and commentary at

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 You can withdraw your consent at any time.

Cate Camerota
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.

Market risk appetite boosts commodity-linked currencies


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