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ICBC Global Market: FX Market Update - January 11, 2019
On Thursday (January 10), as Powell, Chair of the Federal Reserve, said that the Federal Reserve will further reduce the size of balance sheet, suggesting the tightening monetary policy has not come to an end, the USD index rebounded from the low points of the past three months. The USD index closed at 95.539 after a rise of 0.34%. EUR against USD closed at 1.1498 after a fall of 0.37%. USD against JPY closed at 108.42, up 0.24%. The resistance and support levels of EUR against USD are expected to be 1.1698 and 1.1348 respectively. The resistance and support levels of USD against JPY are expected to be 109.92 and 104.96 respectively.