Home > News Updates > Financial News > ICBC Global Market
ICBC Global Market: FX Market Update - December 12, 2016
 

The euro dropped on Friday for a second consecutive day in a continued reaction to the European Central Bank's extending its bond-buying program three months longer than many had anticipated, even as the bank cut the size of the monthly purchases. The dollar index, which measures the greenback against a basket of six major rivals, rose 0.48 percent to 101.59. The euro fell 0.53 percent at $1.0559 against the greenback. Against the yen, the dollar was up 1.18 percent at 115.36. The euro is expected to meet resistance and support against the dollar at $1.0790 and $1.0460 respectively, while the dollar is expected to meet resistance and support against the yen at 117.20 and 113.70 respectively.

Disclaimer: This research report is prepared by the Industrial and Commercial Bank of China Limited ("ICBC") based on public information. Facts and views expressed in the report do not reflect the official opinion of ICBC. ICBC makes every effort to use reliable information, but makes no representation that the information is accurate or complete. ICBC bears no responsibility or liability for any direct or indirect loss arising out of (or claimed to be arising out of) using or reliance upon such information. ICBC owns the copyright of this report. This report may not be reproduced, copied, published, distributed or quoted in any way without the express written consent of ICBC. ICBC reserves the right to investigate and prosecute violations of copyright infringement to the fullest extent of the law.


(2016-12-12)
Close