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ICBC Global Market: FX Market Update - May 3, 2017
 

The dollar index, which tracks the U.S. currency against six major rivals, inched down 0.10 percent at 98.976 on Tuesday after weak U.S. April auto sales added to worries that the Federal Reserve may eventually take a more dovish-than-expected view on interest rate increases over the remainder of the year. The euro gained 0.27 percent to $1.0927 against the greenback. Against the yen, the dollar was up 0.12 percent at 111.96. The euro is expected to meet resistance and support against the dollar at $1.0100 and $1.0780 respectively, while the dollar is expected to meet resistance and support against the yen at 113.50 and 110.00 respectively.

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(2017-05-03)
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