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FOREX-Dollar rises vs euro after US housing, prices data

Published 01/20/2010, 08:57 AM
Updated 01/20/2010, 09:04 AM

(Adds comments, details. Changes byline and dateline, previous LONDON)

By Vivianne Rodrigues

NEW YORK, Jan 20 (Reuters) - The dollar rose versus the euro on Wednesday after the government reported U.S. housing starts fell unexpectedly in December, while producer prices rose last month.

Analysts said that despite the mixed reports, the data, especially housing starts, was supportive to the dollar.

"The worst in the housing sector is already behind us," said Boris Schlossberg, director of FX research at GFT in New York. "Overall, the data should be dollar constructive. The U.S. economy is still doing much better than Europe, and that's why we're going to see the dollar do well against the euro."

The euro was last trading at $1.4139, down 1.1 percent on the day and little changed from prior to the data.

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