News Column

US Dollar Slides Despite Upbeat US Existing Home Sales Data

August 21, 2014

BRUSSELS (Alliance News) - The US dollar slipped against most major currencies on Thursday, despite upbeat data on existing home sales in July.

Existing home sales in US unexpectedly rose to their highest annual pace of the year in the month of July, according to a report released by the National Association of Realtors.

NAR said existing home sales climbed to a seasonally adjusted annual rate of 5.15 million in July from a downwardly revised 5.03 million in June.

The greenback retreated to 1.3280 against the euro, after advancing to near a 1-year high of 1.3241 in early Asian deals.

The greenback edged down to 103.59 against the yen and 0.9117 against the franc, off early 4-1/2-month high of 103.95 and a 7-month high of 0.9145, respectively.

The greenback is likely to test support around 103.00 against the yen, 0.905 against the franc and 1.335 against the euro.

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Source: Alliance News

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