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ICBC Global Market: FX Market Update - October 20, 2017
 

The dollar index, which tracks the greenback against six major rivals, fell 0.22 percent at 93.159 on Thursday after data showed that the number of Americans filing for unemployment benefits dropped to its lowest level in more than 44 years last week,  cementing expectations that the Federal Reserve will raise interest rates in December, but a report suggested that President Donald Trump was leaning toward Jerome Powell as the next chair of the Federal Reserve. The euro rose 0.53 percent against the greenback to $1.1850. Against the yen, the dollar was down 0.35 percent at 112.53. The euro is expected to meet resistance and support against the dollar at $1.1890 and $1.1744 respectively, while the dollar is expected to meet resistance and support against the yen at 113.43 and 112.15 respectively.

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(2017-10-20)
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