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ICBC Global Market: FX Market Update - April 11, 2018
 

The dollar index, which tracks the greenback against six major rivals, fell 0.28 percent to 89.587 on Tuesday, as the euro strengthened. The euro was up 0.28 percent to 1.2354 against the greenback, after the ECB policymaker Edward Nowotny said that the 2.55 trillion euro bond-buying programme would be wound down by the end of this year, which would then pave the way for rate rise. Against the yen, the dollar rose 0.41 percent at 107.19 after China promised to cut import tariffs, easing concerns about a U.S.-China trade conflict. The euro is expected to meet resistance and support against the dollar at $1.2430 and $1.2120 respectively, while the dollar is expected to meet resistance and support against the yen at 108.40 and 105.50 respectively.

 

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(2018-04-11)
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