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ICBC Global Market: FX Market Update - July 18, 2018

The dollar index rose 0.46 percent to 94.945 against a basket of currencies on Tuesday as Federal Reserve Chairman Jerome Powell provided an upbeat assessment on the U.S. economy while downplaying the impact of current global trade policy discussions on the outlook for further monetary tightening. The euro fell 0.43 percent to 1.1659 against the greenback. Against the yen, the dollar was up 0.51 percent at 112.85. 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 114.00 and 111.20 respectively.


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