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Euro extends gains versus dollar after US housing data
by hlk Tue 19 Jul 2011, 22:32
NEW YORK: The euro extended gains against the dollar on Tuesday after U.S. housing starts data 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.
The euro was last at $1.4186, up 0.6 percent on the day, according to Reuters data. That is up from $1.4158 prior to the release of the data.
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. – Reuters
U.S. housing starts touched a six-month high and permits for future CONSTRUCTION [] unexpectedly increased, a government report showed.
The euro was last at $1.4186, up 0.6 percent on the day, according to Reuters data. That is up from $1.4158 prior to the release of the data.
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. – Reuters
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