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ICBC Global Market: FX Market Update - October 16, 2017
 

The dollar index, which tracks the greenback against six major rivals, rose 0.04 percent at 93.091 on Friday, after data showed U.S. consumer prices rose less than expected in September, pointing to muted inflation that could worry Federal Reserve officials, but Fed Chair Janet Yellen said that the U.S. central bank shall raise interest rates gradually in view of U.S. economy and labor market. The euro fell 0.06 percent against the greenback to $1.1822. Against the yen, the dollar was down 0.38 percent at 111.84. The euro is expected to meet resistance and support against the dollar at $1.1980 and $1.1660 respectively, while the dollar is expected to meet resistance and support against the yen at 114.50 and 110.50 respectively.

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(2017-10-16)
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