Dollar Declines After U.S. Sales of New Homes Plunge in July
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The dollar declined against the euro after purchases of new U.S. homes unexpectedly fell by the most in more than three years in July.
The Bloomberg U.S. Dollar Index dropped for the first time in three days after June’s new-home sales number was also revised down. The greenback still rose this week after Federal Open Market Committee minutes released showed most officials are comfortable with a plan to start reducing bond purchases if the economy improves. The Canadian dollar rebounded from a six-week low versus the U.S. currency. The real surged after Brazil announced an intervention program.