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ICBC Global Market: FX Market Update - December 29, 2017
 

The dollar index, which tracks the greenback against six major rivals, fell 0.45 percent to 92.602 on Thursday on a less upbeat U.S. growth outlook after the passage of major tax cuts. The euro was up 0.46 percent to 1.1941 against the greenback. Against the yen, the dollar edged down 0.41 percent at 112.87. The euro is expected to meet resistance and support against the dollar at $1.2100 and $1.1720 respectively, while the dollar is expected to meet resistance and support against the yen at 114.80 and 112.00 respectively. (The update will suspend publishing during the New Year holiday. The issue on January 2 will introduce the market in the previous trading session.)


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.


(2017-12-29)
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