MW: Dollar up slightly after housing data, before Fed
NEW YORK (MarketWatch) -- The dollar showed little immediate reaction on Wednesday to news that new home sales stayed near record-low levels in May. Overall, the U.S. currency remained under pressure amid caution ahead of the Federal Reserve statement on monetary policy later on Wednesday. The dollar index (DXY 79.90, +0.06, +0.08%) , which measures the U.S. unit against a basket of six major currencies, stood at 80.002, up from 79.870 in earlier trade. New home sales dropped 0.6% to a seasonally adjusted annual rate of 342,000 in May from a revised 344,000 in April. Economists surveyed by MarketWatch expected the pace of sales to accelerate to a 363,000 rate in May.
