On Wednesday, the dollar index, which measures the greenback against a basket of six major currencies, was down 0.14 percent at 99.677 after U.S. home sales fell more than expected in February as low housing inventories pushed up home prices. The euro fell 0.12 percent at $1.0795 against the greenback. Against the yen, the dollar was down 0.51 percent at 111.14. The euro is expected to meet resistance and support against the dollar at $1.0900 and $1.0700 respectively, while the dollar is expected to meet resistance and support against the yen at 113.00 and 110.00 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.