US dollar trading mixed ahead of Fed meeting

US dollar trading mixed ahead of Fed meeting

There were several economic releases out of the US this morning including retail sales, producer prices, empire manufacturing and industrial production. Retail sales and empire manufacturing missed their forecasts, while producer pricing was higher than expected. Markets will remain focused on decision from the Fed due tomorrow.

“Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.”
Ferris Bueller’s Day Off
  • FX Rates
    June 15, 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 US dollar trades mixed against its peers following several data releases. US retail sales, product price inflation and industrial productions were all released this morning.  

    GBP

    Sterling is trading lower under pressure following news that outlined a delay in the UK’s full economic reopening.

    EUR

    EUR/USD is trading modestly higher after hitting a one-month low of 1.2093 on Monday. The currency pair is expecting to remain in a tight trading range as investors focus on the Fed’s policy meeting tomorrow.

    CAD

    USD/CAD is trading stronger hitting a high of 1.2199. The Canadian dollar weakened to levels not seen since May 13 ahead of US data that would provide the market insight into the economic recovery.  

    ASIA/PACIFIC

    Australian dollar is trading lower after June minutes from the RBA were released outlining different options for its QE program which will be announced at the central bank’s July policy meeting.
    USD/JPY remains in a tight trading range of 109.99-110.17.

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/trends-insights/foreign-exchange-advisory

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 PrivacyOffice@svb.com. You can withdraw your consent at any time.

Cate Camerota
WRITTEN BY
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