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Dollar down amid weak home price and retail data
Updat:Dec 27, 2007   Author:lj   Click:[]

www.chinaview.cn2007-12-27 08:34:23

NEW YORK, Dec. 26 (Xinhua) -- Dollar fell against most major currencies on Wednesday as weak home prices and retail data raised worries about U.S. economy.

Prices of existing U.S. single-family homes recorded their biggest annual drop in October, suggesting the housing slump is far from over, a national home price gauge released on Wednesday showed. Data from a major retailer and MasterCard suggested weak holiday sales. It could raise concerns about the strength of consumer spending and in turn the economy. The news stirred concern among investors who expect the dollar to resume a broad slide in 2008 as credit worries resurface and signs of a U.S. economic slowdown increase. Investors may now focus on other economic data due this week, including durable goods orders and new U.S. home sales of November. The euro bought 1.4500 dollars in late New York trading, higher than 1.4405 dollars Friday. The pound rose to 1.9836 dollars from 1.9770 dollars. The dollar dipped to 1.1503 Swiss francs from 1.1568 francs, and rose 1.0194 Canadian dollars from 1.0111 Friday. It edged down to 114.26 yen from 114.32 yen.

Editor: Du Guodong

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