LSE: US Dollar Extends Slide Vs Franc, Euro After Soft Pending Home Sales Data
BRUSSELS (Alliance News) - The US dollar continued its early decline against the Swiss franc and the euro in New York deals on Monday, as US pending home sales rose less-than-expected in May.
Data from the National Association of Realtors showed that the pending home sales rose 0.9% in May, up from expectations for a 1.3% growth. The April reading was revised down to 2.7% increase.
The greenback fell to a 5-day low of 0.9285 against the franc, off early multi-week high of 0.9426. At Friday's close, the pair was quoted at 0.9326.
The greenback, having advanced to a 4-week high of 1.0953 against the euro in the previous session, reversed direction and was trading at 1.1159.
The greenback is likely to find support around 0.92 against the franc and 1.15 against the euro.
