Japan stated that the Bank of Japan may increase rates prior to hitting its 2% inflation target. The Japanese yen strengthened against all of its G10 peers on speculation of the policy shift. The US dollar index is on pace for almost a 1% loss for this week, this trend lower comes after inflation data was released earlier this week.
-
FX Rates
January 14, 2022Rates 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.
EUR/USD 1.1437 GBP/USD 1.3694 USD/CAD 1.2525 AUD/USD 0.7238 USD/JPY 129.96 USD/CNH 6.3559 USD/ILS 3.1107 USD/MXN 20.3078 USD/CHF 0.9116 USD/INR 74.1537 USD/BRL 5.5456 USD/SGD 1.3470 USD/DKK 6.5070 USD/SEK 8.9794 USD/NOK 8.7207
-
USD
The Bloomberg dollar index is trading slightly lower and on track for a 0.9% decline for the week. This is the largest weekly loss since May. US Treasury 10-year yields increased 4bps trading at 1.75%.
GBPData out of the UK showed that the economy grew 0.9% for the month of November. This surpassed pre-pandemic levels of 0.7% in February 2020. GBP/USD remains largely unchanged.EUREUR/USD is trading slightly lower. Next key resistance levels are 1.1495 (March 2020 high) and the psychological level of 1.1500.
CADThe loonie advanced on track for a gain against the US dollar for three out of the last four weeks. The Canadian dollar is supported by higher oil prices which head for a fourth weekly gain.
ASIA/PACIFICThe Japanese yen strengthened against all G10 currencies after a report showed that the Bank of Japan may consider hiking interest rates ahead of hitting its 2% inflation target. The yen is on track for its biggest weekly gain in over a year on speculation of the BOJ policy shifts.
For more analysis on FX markets or information regarding SVB's FX services:
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.
Thank you for subscribing to SVB's Daily FX Update.
You're almost done. Please check your email box and follow the instructions to confirm your subscription. If you did not receive an email please check your Spam or Bulk E-Mail folder just in case the confirmation email got delivered there instead of your inbox. If so, select the confirmation message and mark it Not Spam, which should allow future messages to get through. Please add us to your trusted list of senders, contacts or address book.
Please note that we will continue to send you communications that we need to send you (for example, to keep you updated on operational changes to your account, a product or a service) or that we are required to send you by law.
| Source: Bloomberg | |
This article is intended for U.S. audiences only. ©2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. The views expressed in this email are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates. This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice nor is it to be relied on in making an investment or other decisions. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction. Foreign exchange transactions can be highly risky, and losses may occur in short periods of time if there is an adverse movement of exchange rates. Exchange rates can be highly volatile and are impacted by numerous economic, political and social factors, as well as supply and demand and governmental intervention, control and adjustments. Investments in financial instruments carry significant risk, including the possible loss of the principal amount invested. Before entering any foreign exchange transaction, you should obtain advice from your own tax, financial, legal, accounting and other advisors, and only make investment decisions on the basis of your own objectives, experience and resources. |
