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Dollar pushes lower vs. rivals after U.S. home sales report

Published 10/24/2014, 10:52 AM
Dollar extends losses vs. counterparts as U.S. data disappoints
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Investing.com - The dollar pushed lower against a basket of other major currencies on Friday, after data showed that U.S. new home sales rose less-than-expected last month, although ongoing concerns over the Ebola virus supported some safe haven demand.

The dollar came under pressure after official data showed that U.S. new home sales rose 0.2% lat month to 467,000 units, below expectations for an increase to 470,000 units.

August's figure was downwardly revised to a 15.3% climb to 466,000 units from a previously estimated 18.0% jump to 504,000 units.

Investors remained cautious after The New York Times reported earlier Friday that a doctor in New York City, identified as Craig Spencer, tested positive for the Ebola virus after returning from treating patients in West Africa.

EUR/USD added 0.15% to 1.2665 after data on Friday showed that the Gfk German consumer climate index rose to 8.5 in October from 8.4 in September, whose figure was revised up from a previously estimated reading of 8.3.

Analysts had expected the index to fall to 8.0 this month.

GBP/USD gained 0.28% to trade at 1.6075. In a preliminary report, the Office for National Statistics said U.K. gross domestic product rose 0.7% in the third quarter, in line with expectations, after a 0.9% increase in the three months to June.

Year-on-year, Britain's GDP rose at an annualized rate of 3.0% in the last quarter, as markets had anticipated, down from a 3.2% growth rate in the second quarter.

Elsewhere, the yen and the Swiss franc moved higher, with USD/JPY down 0.15% at 108.11 and with USD/CHF slipping 0.16% to 0.9525.

The commodity linked dollars were steady to higher, with AUD/USD advancing 0.48% to 0.8802, NZD/USD rising 0.34% to 0.7848, while USD/CAD dipped 0.03% to 1.1230.

The U.S. dollar index, which tracks the performance of the greenback against a basket of six major currencies, fell 0.17% to 85.81.

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