US dollar to end week trading higher

US dollar to end week trading higher

Risk sentiment shifted towards risk-off, which is supporting the US dollar. Concerns about the debt crisis regarding China Evergrande has caused traders to shift towards safer assets. The Japanese yen is continuing to trade weak, maintaining it’s position as the worst performing G-10 currency this year.

“The hard days are what make you stronger.” 

Aly Raisman
  • FX Rates
    September 24, 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

    Concern regarding the China Evergrande debt crisis has impacted market risk sentiment supporting the US dollar. The Bloomberg dollar index climbed from a one-week low hit yesterday.

    Sterling is trading almost 60 points lower after the rally yesterday. The market will look for additional clues from the Bank of England at the central bank’s Governor Andrew Bailey’s speech next week.

    EUR/USD remains with a $1.17 handle, trading within a tight 1.1703-1.1748 range.

    USD/CAD is trading higher on broad US dollar strength and general market risk sentiment. Retail sales out of Canada released yesterday showed a rebound after falling earlier in the summer.

    The Japanese yen is the worst performing G-10 currency, weakening 4% so far in 2021. While other bonds around the world surge, Japanese bond yields remain low. Inflation data out of Japan released on Friday showed a decrease in consumer prices of 0.4% compared to at least a 3% increase from the US and eurozone.

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Cate Camerota
Cate Camerota

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