Home > News Updates > Financial News > ICBC Global Market
ICBC Global Market: FX Market Update - November 10, 2016
 

The dollar fell sharply in Asian trading on Wednesday as investors worried that a Trump victory could cause economic uncertainty. The dollar index, which measures the greenback against a basket of six major rivals, reversed earlier selling and closed up at 98.504 after the Republican nominee had triumphed over Democrat Hillary Clinton in the presidential election. The euro tumbled 1.03 percent against the greenback to $1.0909. Against the yen, the dollar was up 0.49 percent to 105.65. The euro is expected to meet resistance and support against the dollar at $1.1050 and $1.0800 respectively, while the dollar is expected to meet resistance and support against the yen at 106.80 and 104.20 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.


(2016-11-10)
Close