RTRS: Dollar pares losses vs yen after US housing data
(Reuters) - The dollar pared losses against the Japanese yen on Tuesday after U.S. housing starts rose more than expected in June.
U.S. housing starts touched a six-month high and permits for future construction unexpectedly increased, a government report showed. [ID:nCAT005473] [ID:nCLAJIE709]
The dollar was last at 79.00 yen JPY=, according to Reuters data, up from 78.92 prior to the release of the report.
Weakness in the U.S. housing market has weighed on the U.S. economy's recovery, so signs of strength in the hard-hit sector bode well for growth. (Reporting by Julie Haviv; Editing by Padraic Cassidy)
