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ICBC Global Market: FX Market Update - January 4, 2017
 

The U.S. dollar rose to its highest since 2014 against a basket of major currencies on Tuesday after data showed solid growth in U.S. Manufacturing in December. The dollar index, which measures the greenback against a basket of six major rival currencies, rose 0.98 percent at 103.21. The euro fell 1.04 percent to $1.0404 against the greenback. Against the yen, the dollar was up 0.74 percent at 117.74 after paring some gains as investors cashed in some profits. The euro is expected to meet resistance and support against the dollar at $1.0500 and $1.0300 respectively, while the dollar is expected to meet resistance and support against the yen at 119.50 and 116.50 respectively. 

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(2017-01-04)
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