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US dollar trading lower as liquidity is thin heading into year end

The US dollar index traded at its weakest level in almost six months. The index has weakened 2.5% since the end of September and is set for its biggest quarterly loss since March 2018. An announcement from central bank in China stated that lenders need to adopt new loan pricing for all credit-supported risk sentiment.

Thursday – US Initial Jobless Claims; Canada Markit Canada Manufacturing
Friday - US ISM Manufacturing
  • FX Rates
    December 30, 2019

    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

    US dollar is trading as much as 0.3% lower at its weakest level in almost six months. Thin liquidity in the markets as we head into year end is creating exacerbated moves in the majors.

    GBP
    Sterling is heading towards its best quarterly performance in a decade. GBP/USD is up as much as 0.4%, trading higher for a fifth day.
    EUR
    The euro strengthened for a fourth day, trading at its highest level since August 13. Bullish sentiment through options has supported the currency
    CAD

    The loonie is hovering around its strongest level since October as the US dollar continues to lose against its peers. The Canadian dollar is on track to end the year as the best performing G10 currency against the US dollar with gains of 4.4% year-to-date.

    ASIA/PACIFIC

    The Japanese yen hit a two-week low at 109.07. The markets in Japan are closed from Tuesday through January 5 for the holidays. The kiwi hit a fresh five-month high trading up to 0.6999.

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 fxadvisors@svb.com.
See all of SVB's latest FX information and commentary at www.svb.com/foreign-exchange

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About the Author

Cate Camerota is currently an FX Advisor at Silicon Valley Bank focusing on early stage and growth Technology names in New England and Eastern Canada. Prior to SVB, Cate worked in FX Sales/Trading at Wells Fargo and Citizens Bank where she supported a portfolio of Middle Market and Mid-Corp clients throughout the Northeast. Cate helped clients identify FX risk and implement strategic hedging programs.

Outside of work, Cate is involved with the Boys & Girls Club of Boston Friends Council, Ladies FORE Finance (women's golf league) and My Life My Choice.

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