Dollar Nears Five-Week Low Before Housing Report, Fed Meeting
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The dollar fell toward a five-week low against the euro before a report forecast to show confidence among U.S. homebuilders stayed at almost a 17-month low, adding to evidence the economic recovery is losing momentum.
The greenback dropped following a weekly decline as traders speculated the Federal Open Market Committee will say after a meeting tomorrow that it’s considering further measures to keep borrowing costs low. The pound fell against all of its most- traded counterparts as home sellers in England and Wales lowered asking prices.