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ICBC Global Market: FX Market Update - May 19, 2017

The U.S. dollar reversed early losses against a basket of major currencies on Thursday after stronger-than-expected U.S. economic data put the focus back on a widely anticipated increase in interest rates by the Federal Reserve. The dollar index, which tracks the U.S. currency against six major rivals, rose 0.31 percent at 97.879. The euro fell 0.51 percent to $1.1101 against the greenback. Against the yen, the dollar was up 0.60 percent at 111.47. The euro is expected to meet resistance and support against the dollar at $1.1230 and $1.0900 respectively, while the dollar is expected to meet resistance and support against the yen at 112.00 and 108.50 respectively.

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(www.chinaview.cn 2017-05-19)