The
dollar traded 0.1 percent from a one-month low versus the euro as weaker U.S.
economic indicators bolstered the argument for the Federal Reserve to delay a
reduction to its bond-buying program.
The
greenback remained lower after a two-day decline versus the yen ahead of a
report today forecast to show new home sales in the U.S. rose at a slower pace
in June. The euro was supported before data predicted to show services and
factory output in the 17-nation region contracted at the slowest pace in more
than a year. The Aussie dollar snapped a three-day gain ahead of a government
report that economists forecast will show inflation remains contained.
The
dollar was little changed at $1.3224 per euro as of 9:04 a.m. in Tokyo and
yesterday touched $1.3239, the weakest level since June 21. It bought 99.49 yen
from 99.43 yesterday, following a 1.2 percent, two-day drop. The Japanese
currency slipped 0.1 percent to 131.58 per euro.
Sales
of new U.S. homes probably rose 1.7 percent to an annualized pace of 484,000
last month, compared with 2.1 percent growth in May, according to the median
estimate in a Bloomberg News survey before today’s Commerce Department report.
(Source: Bloomberg)
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