The dollar is broadly higher against other most-traded currencies today after positive reports about new home sales and consumer confidence allowed the currency to rise, erasing previous losses versus the euro.
The Conference Board consumer sentiment index climbed from 82.2 in May to 85.2 in June, exceeding the predicted value of 83.6 by a wide margin. New home sales were at the seasonally adjusted annual rate of 504, 000 in May, compared to the April rate of 425,000 and the forecast of 442,000. The report followed yesterday’s data about existing home sales that showed an increase to 4.89 million last month from 4.66 million the month before, which was also above expectations.
Not all reports today were good, but the market preferred to pay attention to the positive ones. This allowed the dollar to gain on the euro, paring the previous decline.
EUR/USD went down from 1.3604 to 1.3586 as of 16:58 GMT today after rising to 1.3627 earlier. GBP/USD dropped from 1.7027 to 1.6973, while USD/JPY advanced from 101.93 to 102.11.
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