The U.S. Dollar fell against the Euro and the Canadian Dollar after the release of weak home sales reports. The report showed that purchases of homes in the U.S. fell during April to its lowest level in almost four years. ''The data definitely puts some pressure on the dollar as it shows a slowdown in the housing sector,'' said Boris Schlossberg, senior currency strategist at DailyFX.com in New York. ''It gives credence to dollar bears.''
Despite the decline, the Euro still fell 0.5 percent against the U.S. Dollar. The Yen also lost 0.5 percent against the U.S. Dollar. The Yen lost ground after North Korea tested missiles.
In forex-trading, the U.S. Dollar traded at 1.3447 against the Euro in comparison to a previous trade of 1.3429. The U.S. Dollar bought 121.75 Japanese Yen in comparison to a previous trade of 121.40.
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