US dollar trading mixed ahead of central bank meetings

US dollar trading mixed ahead of central bank meetings

There were no economic data releases yesterday out of the US and Fed speakers remain quiet ahead of next week’s Federal Reserve meeting. The US dollar is trading mixed against its peers and traders are focused on the upcoming central bank meetings. Data out of the UK showing inflation did not accelerate as much as expected put downward pressure on sterling.

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  • FX Rates
    April 21, 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 Bloomberg Dollar Index is trading slightly stronger, breaking its losing streak. US equity futures are trading mixed while the 10-year Treasury yield gained 1 bps, trading at 1.57%.

    Sterling is trading weaker against the US dollar following mixed data out of the UK. Inflation data showed that consumer prices rose 0.7% versus the 0.8% increase expected.
    EUR/USD is one of the worst performers falling 0.2% and trading just above the 1.20 level. The European Central Bank is due to meet on Thursday and investors are not expecting any news that will have a meaningful impact on FX markets.
    USD/CAD holds higher trading above 1.2630 ahead of a Bank of Canada meeting later today. The central bank could give hints on how they may bring forward their interest-rate hike timeline - current guidance suggests no more before 2023.

    USD/JPY is near flat as Japan considers strategies that could control the spread of the coronavirus. The next level of support for the currency pair is at 108.00.

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Cate Camerota
Cate Camerota

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