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Dollar dips on bright U.S. housing and Manufacturing data

02 Nov, 2009 @ 10:23 am ET | written by FXStreet


FXstreet.com (Barcelona) - The Dollar and Yen have been slammed on the back of positive manufacturing and housing figures, and Pound and Euro have jumped on early U.S. session.

U.S. Manufacturing ISM has risen to 55.7 in September, from 52.6 in September, well above the 53.3 reading expected by market analysts, with employment and Production sub-indexes increasing considerably on the month.

Furthermore, Pending home sales increased at a 6.1% pace in October, to 110.1; the eight consecutive increase in pending home sales. Year on year, sales have increased 21.2%.

The Dollar has been hit by risk appetite, and has dipped against its major rivals. EUR/USD reaction from 1.4740 has extended above 1.4800, and the Euro reaches 1.4825 day high at the moment of writing.

GBP/USD has bounced at intra-day low 1.6330, returning above 1.6400, to reach 1.6425 at the moment of wriiting. USD/JPY rebound at 89.85 has extended above 91.00 reaching an intra-day high at 90.70 right after U.S. datta was released.

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