Dollar Falls Against Other Majors, Tuesday, June 19, 2007 4:25:54 PM
The dollar was weaker against the other majors on Tuesday in New York. The dollar fell to a 12-day low against the sterling and euro in morning trading. The buck bounced back against the euro and was near its flat-mark amid choppy trading. The dollar was also down against the yen, slipping away from a multi-year high. Trading took place amid the release of housing starts data in the U.S., which showed a 2.1% drop in new home construction. Meanwhile, building permits were up 3%.The greenback was choppy against the euro on Tuesday in New York after falling to a 12-day low earlier in the day. The dollar fell to as low as 1.3436 at 2 a.m. ET, but rallied sharply shortly after. It got as high as 1.3383 at 5:30 a.m. ET. The greenback, couldn`t sustain the momentum, though, and trended down for the rest of the morning before leveling off. The buck traded at 1.3426 at 4 p.m. ET, slightly below its overnight levels. Trading took place as the Zew Center of Economic Research released the economic sentiment indicator for Germany, which unexpectedly declined by 3.7 points to 20.3 in June from 24 in the previous month.
The dollar declined against the British pound on Tuesday in New York and reached a 12-day low. The greenback edged higher in the early morning hours, but then declined sharply beginning at around 6 a.m. ET. The dollar reached as low as 1.9889 by 12:15 p.m. ET. Trading was level near that mark into the late afternoon. There was no major economic news out of the U.K. on Tuesday.
The dollar slipped versus the yen on Tuesday morning in New York, falling away from a 4 Ѕ-year high. The pair was range-bound in the overnight hours until the dollar edged a little higher at around 1:30 a.m. Starting at around 6 a.m., however, the dollar dropped sharply against its Japanese counterpart. It got as low as 123.32 at 10:15 a.m. ET, the bottom of a range that has lasted for a few days. The dollar gained slightly for the rest of the morning, but then edged lower in the afternoon and matched its daily low at around 4 p.m. ET. Traders considered data that showed Japanese department store sales slid 0.4% on year to 599.3 billion yen in May, the Japan Department Stores Association said Tuesday. In April, store sales declined 1.3%.
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posted by Kalin Tasev @ 2:05 PM
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