Dollar drops across the board ad new home sales plunge

By IBTimes Staff Reporter | December 23 2009 10:13 AM

FXstreet.com (Barcelona) - The Dollar is dropping across the board, as U.S. new home sales drop 11.3% in November, to an annual rate of 355K, instead of the 1.9% advance to around 425K annual rate expected by the market.

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EUR/USD has extended its recovery from 1.4250 area, breaching 1.4300 level on the back of housing figures, to reach 1.4318 so far, approaching Dec 22 high at 1.4330.

USD/JPY retreat from 91.85 resistance area has extended lower after the release of housing data, with the pair dropping about 45 pips to a session low at 91.35.

GBP/USD remains trading within its day range, from 1.5920 to 1.5980.

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