Investing.com - The dollar remained supported against the other
major currencies on Wednesday, hovering close to 11-month highs as
Tuesday's upbeat U.S. housing data indicated that the recovery is
The euro fell to fresh nine-month lows, with EUR/USD shedding
0.26% to 1.3286.
The dollar strengthened across that board after data on Tuesday
showed that U.S. housing starts jumped 15.7% in July, while the
number of new permits granted to home-builders also accelerated,
pointing to underlying strength in the housing sector.
The data offset a report showing that U.S. consumer prices rose
just 0.1% in July.
The pound eased off four-and-a-half month lows, with GBP/USD
adding 0.19% to 1.6648 after the minutes of the Bank of England's
August policy meeting showed that two members voted in favor of a
BoE bard members Martin Weale and Ian McCafferty said economic
circumstances "were sufficient to justify an immediate rise in bank
The remaining seven members voted to keep the rate on hold,
saying early tightening could leave the economy "vulnerable to
shocks", according to the report.
Separately, the Confederation of British Industry said that its
index of industrial orders expectations climbed to 11 this month,
from a reading of 2 in July, exceeding expectations for a rise to
The dollar reached four-and-a-half month highs against the yen,
with USD/JPY rising 0.34% to 103.26, while USD/CHF edged up 0.20%
The Australian and New Zealand dollars were also weaker, with
AUD/USD easing 0.08% to 0.9295 and NZD/USD down 0.30% to
Earlier Wednesday, Reserve Bank of Australia Governor Glenn
Stevens said market have "underappreciated" the risk of a weaker
Australian dollar, adding that it would be surprising based on
economic fundamentals if the currency maintained current
Elsewhere, USD/CAD trimmed gains to hold steady at 1.0945 after
Statistics Canada reported that wholesale sales rose 0.6% to C$53.0
billion in June. Economists had forecast an increase of 1.3%.
Wholesale sales for May were revised up to 2.3% from a
previously reported gain of 2.2%.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.20% to 82.11, the highest level since September 6.
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