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ICBC Global Market: FX Market Update - November 11, 2016
 

The dollar index, which measures the greenback against a basket of six major rivals, extended gains at 98.785 as market expected that the next Congress would pass a stimulus program to boost U.S economy with the Federal Reserve responding with higher interest rates. The euro fell 0.18 percent against the greenback to $1.0889. Against the yen, the dollar was up 1.10 percent to 106.81. The euro is expected to meet resistance and support against the dollar at $1.1020 and $1.0780 respectively, while the dollar is expected to meet resistance and support against the yen at 107.90 and 105.30 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.


(2016-11-11)
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