ICBC Global Market: FX Market Update - February 27, 2019
On Tuesday (February 26), as the Fed Chair Powell reiterated that the Fed would keep patient on the monetary policy, suggesting the interest rate increase process will be slowed down, the USD index volatilely dropped to the bottom for the latest three weeks. The USD index closed at 96.003 after a fall of 0.43%. EUR against USD closed at 1.1385 after a rise of 0.24%. USD against JPY closed at 110.57, down 0.44%. The resistance and support levels of EUR against USD are expected to be 1.1490 and 1.1216 respectively. The resistance and support levels of USD against JPY are expected to be 111.38 and 109.23 respectively.