U.S. Dollar Rises on Homes Data

The dollar ended the longest streak of losses since April after sales of U.S. homes rose by the most in 22 years, adding to signs of recovery from a harsh winter.

Price swings in the U.S. currency versus the yen, as measured by options, fell to a record low before a report this week forecast to show the economy contracted more than earlier estimated. The pound weakened after Bank of England Governor Mark Carney damped speculation of a rate rise. Russia’s ruble rallied to the strongest level since January.

“We did see a stronger dollar this morning, especially in the wake of the positive consumer-confidence and housing data,” said Omer Esiner, chief market analyst in Washington D.C. at Commonwealth Foreign Exchange Inc., a currency brokerage. “We’ve kind of traded sideways a little bit. It’s largely technical, but there’s some geopolitical headlines that may be weighing on risk appetite.”

Bloomberg

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