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ICBC Global Market: FX Market Update - December 5, 2018
On Tuesday (December 4), U.S. Treasury yields fell, resulting in the market fears that the Federal Reserve might pause in its rate-hike cycle, while an inversion in part of the yield curve was taken as a red flag for a potential recession. USD index closed at 96.965 after a decline of 0.08%. EUR against USD closed at 1.1344 after a fall of 0.07%. USD against JPY closed at 112.77 after a drop of 0.77%. The resistance and support levels of EUR against USD are expected to be 1.1494 and 1.1194 respectively. The resistance and support levels of USD against JPY are expected to be 114.27 and 111.27 respectively.