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ICBC Global Market: FX Market Update - February 24, 2017
 

The dollar index, which measures the currency against its six major peers, fell 0.17 percent to 101.05 on Thursday on a perceived lack of progress on U.S. tax reform, while Wednesday's more dovish-than-expected Federal Reserve meeting minutes continued to weigh on the greenback. The euro rose 0.23 percent at $1.0579 against the greenback. Against the yen, the dollar was down 0.62 percent at 112.57. The euro is expected to meet resistance and support against the dollar at $1.0700 and $1.0400 respectively, while the dollar is expected to meet resistance and support against the yen at 115.00 and 111.50 respectively.

Disclaimer: This research report is prepared by the Industrial and Commercial Bank of China Limited ("ICBC") based on public information. Facts and views expressed in the report do not reflect the official opinion of ICBC. ICBC makes every effort to use reliable information, but makes no representation that the information is accurate or complete. ICBC bears no responsibility or liability for any direct or indirect loss arising out of (or claimed to be arising out of) using or reliance upon such information. ICBC owns the copyright of this report. This report may not be reproduced, copied, published, distributed or quoted in any way without the express written consent of ICBC. ICBC reserves the right to investigate and prosecute violations of copyright infringement to the fullest extent of the law.


(2017-02-24)
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