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ICBC Global Market: FX Market Update - April 28, 2017
 

The dollar index, which tracks the U.S. currency against six major rivals, inched up 0.03 percent at 99.076 on Thursday as the growth of U.S. business investment picked up and the labor market remained robust, suggesting U.S. economy retains its steam. The euro slipped 0.28 percent to $1.0872 against the greenback. Against the yen, the dollar was up 0.20 percent at 111.25. The euro is expected to meet resistance and support against the dollar at $1.0950 and $1.0780 respectively, while the dollar is expected to meet resistance and support against the yen at 112.50 and 110.00 respectively. (The update will suspend publishing during the Labor Day holiday. The issue on May 2nd 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.


(2017-04-28)
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