Interbank market news scan: Major G-10 currencies split on growth with Swiss, Norwegian, and Swedish currencies depreciating…

The Swiss franc, Norwegian krone, and Swedish kroner ended this week depreciating the most against the US dollar. More later today as to the political, economic, central bank, and commodity price information that not only impacted the market but that brokers should be sharing to help maintain fairness and integrity in the foreign exchange market.

Currency pair22 March 202125 March 2021Percentage change
EUR/USD1.19131.1798-.96
AUD/USD0.77340.7592-1.84
GBP/USD1.38511.3712-1.00
USD/JPY108.765109.0580.27
NZD/USD0.71610.6966-2.7
USD/CHF0.92620.93721.19
USD/NOK8.52218.61381.08
USD/SEK8.53018.62931.16
USD/CAD1.25091.25880.63
Source: OANDA

As of 10:59 am AST, dollar shows some strengthening as yields increase

PairsFederal Reserve as of 8 January 2021OANDA as of 11 January 2021OANDA as of 12 January 2021 10:59 am AST
GBP/USD1.35831.35031.35026
USD/CAD1.26981.27691.2769
USD/CNH6.47506.47826.4782
USD/DKK6.06976.11156.1115
EUR/USD1.22521.21671.2167
USD/INR73.310073.409373.4093
USD/MXN19.941020.120320.1203
USD/JPY103.8900104.1600104.1600
USD/NOK8.40748.51598.5159
USD/SEK8.20858.28078.2807
USD/CHF0.88430.88920.8892
Sources: Federal Reserve, OANDA
RatesFederal Reserve as of 8 January 2021Bloomberg as of 12 January 2021 10:59 am AST
Federal Funds Rate0.090.08
Prime Rate3.253.25
3-month Treasury0.080.08
2-year Treasury0.140.15
10-year Treasury1.131.17
30-year Treasury1.871.89
Sources: Federal Reserve, Bloomberg

As of 10:00 pm AST, the dollar strengthens against the rupee, peso, yen, Swedish krona, and Swiss franc …

PairsFederal Reserve as of 4 January 2021OANDA as of 4 January 2021OANDA as of 10 January 2021 10:00 pm AST
GBP/USD1.36621.36331.3559
USD/CAD1.27531.27261.2687
USD/CNH6.52506.45526.4631
USD/DKK6.08396.06576.0823
EUR/USD1.22301.22641.2215
USD/INR73.010072.936773.2500
USD/MXN19.892019.838219.9603
USD/JPY103.1900103.0200103.9400
USD/NOK8.57578.53008.4110
USD/SEK8.20958.20918.2316
USD/CHF0.88410.88150.8851
Source: Federal Reserve, OANDA

Legal/Political/Economic/ Events Impacting US Dollar

Pressure mounts on US president to leave office before 20 January

At the time of this writing, no public statement surrounding the issue of leaving office has been issued by President Trump. Bloomberg reports mounting pressure on Vice President Mike Pence to gather the President’s cabinet and bring about Mr Trump’s removal from office by invoking the 25th Amendment of the U.S. Constitution. Speaker of the House Nancy Pelosi is expected to move on a House resolution that gives Vice President Pence 24-hours to invoke the 25th Amendment. If Mr Pence does not meet the 24-hour deadline, the House will then move to impeach the President.

Section 4 of the 25th Amendment allows the Vice-President and “a majority of either the principal officers of the executive departments or of such body as Congress may by law provide” to transmit a written declaration to the President pro tempore of the Senate and the Speaker of the House that the President is no longer fit to serve.

As of 9:59 an AST, foreign exchange in holding pattern as the United States watches the U.S. senate run-offs in Georgia

PairsFederal Reserve as of 4 January 2021OANDA as of 4 January 2021OANDA as of 5 January 2021
GBP/USD1.36621.36331.36329
USD/CAD1.27531.27261.27260
USD/CNH6.52506.45526.45524
USD/DKK6.08396.06576.06566
EUR/USD1.22301.22641.22636
USD/INR73.010072.936772.9367
USD/MXN19.892019.838219.8382
USD/JPY103.1900103.02103.02
USD/NOK8.57578.53008.53002
USD/SEK8.20958.20918.20912
USD/CHF0.88410.88150.88150
Board of Governors of the Federal Reserve, OANDA

Regulatory news impacting foreign exchange

None at this time…