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ICBC Global Market: FX Market Update - July 12, 2018

The dollar index, which tracks the greenback against six major rivals, rose 0.60 percent to 94.720 on Wednesday as the Labor Department's expectation-beating inflation report increased prospects that the Federal Reserve will raise interest rates another two times this year. The euro fell 0.60 percent to 1.1672 against the greenback. Against the yen, the dollar was up 0.92 percent at 112.00. The euro is expected to meet resistance and support against the dollar at $1.1820 and $1.1530 respectively, while the dollar is expected to meet resistance and support against the yen at 113.50 and 110.40 respectively.


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