NEWS / Foreign Exchange

The dollar fell after bad US fundamental data today

The UShousing sector suffer after the release of worse than expectations data for USexisting home sales today. The sales of existing homes during March reach levelof 6.12M compare with the prior month of 6.69M. The high US interest rates coldthe housing market and that cause economic slow down. After the period of fewyears with interest rates of 1.00% at the moment the Americans does not fast tobuy new homes. The bad situation in the US economy was confirmed today by therelease of consumer confidence data. The data was 104.0 for April compare with107.2 by prior month. The dollar act on the market moving with about 80 pips upand is very close the record high of 1.3668 since December 2004.