RTRS: Dollar adds to losses versus yen on housing data
NEW YORK (Reuters) - The dollar extended losses against the yen on Friday after data showed U.S. housing starts continued to decline in September, adding to concern about the health of the U.S. economy.
The dollar dipped to 100.79 yen from about 100.95 yen before the Commerce Department said housing starts fell 6.3 percent last month. Compared with late Thursday, the dollar was down 0.8 percent against the Japanese currency.
"With mortgage rates once again climbing, housing related numbers are likely to disappoint in the months ahead," said Stephen Malyon, chief currency strategist at Scotia Capital in Toronto. "Dollar-yen is dropping as investors shy away from risk."
(Reporting by Steven C. Johnson and Nick Olivari; Editing by Theodore d'Afflisio)
