The dollar index, which tracks the greenback against six major rivals, fell 0.14 percent to 94.685 on Thursday after Republicans in the U.S. House of Representatives released proposals to overhaul the tax code, an investors had minimal reaction to the announcement Federal Reserve Governor Jerome Powell was President Donald Trump's pick to be the next chair of the Fed. The euro rose 0.34 percent to 1.1656 against the greenback. Against the yen, the dollar was down 0.06 percent at 114.08. The euro is expected to meet resistance and support against the dollar at $1.1800 and $1.1550 respectively, while the dollar is expected to meet resistance and support against the yen at 115.00 and 111.67 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.