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ICBC Global Market: FX Market Update - August 11, 2017

The dollar index, which tracks the greenback against six major rivals, fell 0.16 percent to 93.401 on Thursday after President Donald Trump warned North Korea not to strike Guam or U.S. allies, and U.S. producer prices recorded their biggest drop in nearly a year, pointing to a further moderation in inflation that could delay a Federal Reserve interest rate hike. The euro rose 0.11 percent against the greenback at $1.1770. Against the yen, the dollar was down 0.78 percent at 109.20. The euro is expected to meet resistance and support against the dollar at $1.1900 and $1.1650 respectively, while the dollar is expected to meet resistance and support against the yen at 110.50 and 108.00 respectively.

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