The dollar index, which tracks the greenback against six major rivals, fell 0.57 percent to 90.458 on Monday as optimism around growth buoyed expectations of tighter monetary policy from European Central Bank. The euro was up 0.62 percent to 1.2261 against the greenback. Against the yen, the dollar edged lower 0.46 percent at 110.52. The euro is expected to meet resistance and support against the dollar at $1.2400 and $1.2120 respectively, while the dollar is expected to meet resistance and support against the yen at 112.20 and 108.80 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.