Dollar Falls as Surprise Housing Gain Fuels Appetite for Risk
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The dollar fell against most of its major counterparts after U.S. pending home sales unexpectedly rose in October and stocks and commodities gained, fueling investor appetite for riskier assets.
The euro slid earlier versus the dollar after European Central Bank President Jean-Claude Trichet refrained from announcing new measures to curb Europe’s sovereign-debt crisis. Trichet signaled policy makers will delay withdrawal of stimulus measures and said the bank will keep buying government bonds.