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ICBC Global Market: FX Market Update - January 10, 2017
 

The dollar index, which measures the greenback against a basket of six major rival currencies, fell on Monday. British Prime Minister Theresa May, under pressure to offer more detail on her strategy before launching divorce talks with the European Union, said on Sunday in a televised interview that Britain would not be able to keep "bits" of its membership. A clean break with the EU's single market is not inevitable, May said on Monday, seeking to clarify comments that pushed down the pound on the possibility of a hard Brexit from the European Union. The U.S. dollar index was down 0.28 percent at 101.93 as investors added bets on safe-haven assets on concerns over hard Brexit. The euro was last up 0.40 percent at $1.0572 against the greenback. Against the yen, the dollar was down 0.77 percent at 116.01. The euro is expected to meet resistance and support against the dollar at $1.0700 and $1.0400 respectively, while the dollar is expected to meet resistance and support against the yen at 118.50 and 114.00 respectively.

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(2017-01-10)
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