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ICBC Global Market: FX Market Update - February 8, 2018
 

The dollar index, which tracks the greenback against six major rivals, rose 0.75 percent to 90.255 on Wednesday, due to euro's weakness in the wake of reports that the leader of Germany's Social Democrats (SPD), Martin Schulz, would not be taking over as finance minister for Europe's biggest economy. The euro was down 0.92 percent to 1.2262 against the greenback. Against the yen, the dollar edged 0.22 percent lower at 109.31. The euro is expected to meet resistance and support against the dollar at $1.2410 and $1.2120 respectively, while the dollar is expected to meet resistance and support against the yen at 110.60 and 107.90 respectively.
 

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(2018-02-08)
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