US dollar steady amid quarter-end flows

US dollar steady amid quarter-end flows

Market risk appetite remains supported as investors continue to monitor US stimulus developments following a release from the Democrats of a scaled-back $2.2 trillion proposal. Immediate focus for FX markets is month-end portfolio rebalancing along with the first US presidential debate tonight.

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  • FX Rates
    September 29, 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 US dollar steadies after the dollar bid across the board earlier in the session. Quarter-end flows are seen as supportive of the US currency.
    Sterling continues to gain, strengthening 0.4% and hitting 1.2885. This move higher is supported by optimistic reports around Brexit and statement from the EU saying even if Boris Johnson’s government does not end plans to break international law, it will not abandon talks with the UK.
    EUR/USD rose as much as 0.2% heading for the currency pair’s second day of gains. The common currency briefly broke above the 1.17 level following CPI data out of Germany which showed consumer prices contracting 0.2% vs. the expectation of 0.1%.

    USD/CAD remains largely unchanged, continuing to hover around the 1.3380 level. The loonie pared earlier gains in reaction to lower oil prices and risk-off trading ahead of the US presidential debate later today.

    The Australian dollar lead gains for G-10 currencies as demand increased from exporters and offshore funds. The currency pair is 0.4% higher trading around 0.7101.
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