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ICBC Global Market: FX Market Update - January 16, 2017
 

The U.S. dollar edged lower on Friday, as traders grew uneasy about the scarcity of new information regarding U.S. President-elect Donald Trump's economic policies. The dollar index, which measures the greenback against a basket of six major rival currencies, fell at 101.180. The euro was up 0.29 percent at $1.0641 against the greenback. Against the yen, the dollar was down 0.17 percent at 114.51. The euro is expected to meet resistance and support against the dollar at $1.0760 and $1.0480 respectively, while the dollar is expected to meet resistance and support against the yen at 116.50 and 112.50 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.


(2017-01-16)
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