US dollar weaker across the board

US dollar weaker across the board

The greenback is trading lower against its peers as a key index of commodities hit highest levels since June 2018. Copper is also trading to levels not seen since 2011. Positive data out of the UK and Eurozone has supported both currencies.

“This is a wonderful day. I’ve never seen this one before.”
Maya Angelou
  • FX Rates
    April 23, 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 dollar is on track to close lower for a third consecutive week. The Bloomberg dollar index is lower by 0.3% trending near January 7 low.
    GBP
    UK data showed that the economic activity in the nation accelerated at the fastest pace in 7 years this month. Sterling is trading 0.3% higher than USD on the news.
    EUR

    Data out of the Eurozone signaled that European service PMIs exceeded expectations. EURUSD is up 0.4%, eyeing the weekly high of 1.2080.

    CAD
    USDCAD holds below the 1.25 handle following comments earlier in the week from the Bank of Canada. The loonie is on track for a third straight weekly gain amid broad USD weakness and stronger commodities.
    ASIA/PACIFIC

    USDJPY is trading lower following comments from the country’s Prime Minister regarding the spread of the virus and the upcoming Olympic games. The currency pair is down 0.4% hitting a low of 107.48.

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.

Daily FX Update: Dollar ends week positive

 

Daily FX Update: Dollar down four consecutive days

 

Daily FX Update; Dollar up after yesterday’s volatility

 

Daily FX Update: Dollar continues slide despite volatility

 

Daily FX Update: Pessimism can’t help dollar

 

Daily FX Update: Dollar set to finish trading higher for a second week