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ICBC Global Market: FX Market Update - December 9, 2016
 

The European Central Bank trimmed back its asset buys on Thursday but promised protracted stimulus until the end of 2017, three months longer than expected. Traders will be watching for any indications of how many rate increases Fed officials expect in 2017. The dollar index, which measures the greenback against a basket of six major rivals, rose 0.87 percent to 101.10. The euro fell 1.26 percent at $1.0615 against the greenback. Against the yen, the dollar was up 0.23 percent at 114.01. The euro is expected to meet resistance and support against the dollar at $1.0850 and $1.0550 respectively, while the dollar is expected to meet resistance and support against the yen at 116.50 and 111.50 respectively.

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(2016-12-09)
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