Monday, March 26, 2007

Dollar extends gains after good US housing data

(Reuters) - The dollar extended gains against the euro on Monday following data last week showing a surprise jump in U.S. existing home sales that cooled expectations for the Federal Reserve to trim interest rates in the next few months.

The 3.9 percent rise in sales of existing U.S. homes in February, the largest in three years, eased some of the worries that a weak property market was taking a heavy toll on the broader economy and would spur the Fed into action.


Read more at Reuters Africa

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