The dollar surged to a seven-month high against a major currency basket on Tuesday, as investors increased bets the Federal Reserve would raise interest rates in December following a round of generally solid U.S. economic data over the last few weeks. The dollar index, which measures the dollar against six major world currencies, rose 0.79 percent to 97.690. The euro hit an almost two-month low against the greenback, down 0.75 percent at $1.1053. Against the yen, the dollar was last up 0.08 percent at 103.50. The euro is expected to meet resistance and support against the dollar at $1.1176 and $1.0940 respectively, while the dollar is expected to meet resistance and support against the yen at 104.34 and 102.84 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.