The dollar bounced off lows of the previous day on Friday after gross domestic product increased at a 1.2 percent annual rate, and the preliminary figure of PCE and durable goods orders exceeded market expectations. The dollar index, which tracks the greenback against six major rivals, was up 0.20 percent to 97.442. The euro fell 0.24 percent to $1.1182 against the greenback. Against the yen, the dollar was down 0.46 percent at 111.31. The euro is expected to meet resistance and support against the dollar at $1.1299 and $1.1005 respectively, while the dollar is expected to meet resistance and support against the yen at 113.00 and 109.67 respectively. (The update will suspend publishing during the Dragon Boat Festival. The issue on May 31 will introduce the market in the previous trading session.)

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.