Monday, December 30, 2013
Dollar slips against euro
The dollar weakened against the euro and other major currencies on Monday (Tuesday morning GMT ) , after reports pending home sales ( homes that management is not yet completed ) U.S. disappointing .
The euro rose to 1.3800 dollars around 2200 GMT Tuesday ( 05:00 GMT) , up from 1.3743 dollars at the same time on Friday ( 27/12 ) .
The dollar fell slightly to 105.11 yen from 105.13 yen , while the euro rose against the Japanese currency , quoted 145.05 yen compared with 144.47 yen on Friday afternoon .
Sales of " pending home " in the U.S. rose for the first time in six months in November , the National Association of Realtors Home ( NAR ) , but rose - 0.2 percent - far less than the 1.5 percent rise expected .
U.S. dollar traders will probably focus on the reduction of the rate of speed of the monthly Federal Reserve asset purchases , which cut $ 10 billion stimulus per month starting in January , noted Benjamin Spier from DailyFX Research .
" Fed Chairman Bernanke mentioned the possibility of the end of 2014 as the end of the stimulus , but he said it would depend on upcoming data releases . If the Fed decides to slow the rate of reduction of the stimulus , the U.S. dollar may decline , " he said in a research note .
" Therefore , the release of economic data worse than expected as the pending home sales today may provide a reason for traders to sell the greenback in the forex market . "
Trading was thin ahead of the New Year holiday on Wednesday , exaggerating some currency movements , said Omer Esiner of Commonwealth Foreign Exchange .
The dollar weakened against the currencies of Switzerland and the UK . The greenback dropped to 0.8877 Swiss francs from 0.8913 francs on Friday , and the pound rose to 1.6497 dollars from 1.6475 , AFP reported .