(Bloomberg) -- The dollar was little changed against the euro after matching an all-time low as a government report showed new-home sales rose less than economists forecast.
The U.S. currency has dropped 3.4 percent this year on speculation signs of an economic slowdown will encourage the Federal Reserve to cut borrowing costs. The dollar rebounded from the record low as investors sold euros to protect options-related bets, traders said. The dollar erased its losses against the euro and gained versus the yen as U.S. stocks rallied, with the Dow Jones Industrial Average closing above 13,000 for the first time.
Read more at Bloomberg Currencies News
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