NEW YORK, Dec 19 — The US dollar stayed nearly flat in late trading on Monday, after concluding its weakest week in over a month due to the Fed’s dovish stance, reported Xinhua.
The dollar index, which measures the greenback against six major peers, rose 0.01 per cent to 102.5625 in late trading.
Builder confidence in the US market for newly built single-family homes rose 3 points to 37 in December, according to the housing market index data jointly released by the National Association of Home Builders (NAHB) and Wells Fargo.
“With mortgage rates down roughly 50 basis points over the past month, builders are reporting an uptick in traffic as some prospective buyers who previously felt priced out of the market are taking a second look,” said NAHB Chairman Alicia Huey. “With the nation facing a considerable housing shortage, boosting new home production is the best way to ease the affordability crisis, expand housing inventory and lower inflation.”
US Treasury yields were trending upwards, with the 2-year yield at 4.44 per cent, the 5-year yield at 3.95 per cent, and the 10-year yield at 3.95 per cent, which may limit the downside of the U.S. dollar.
In Germany, the Ifo institute said its business climate index stood at 86.4, which unexpectedly worsened in December. In late New York trading, the euro increased to US$1.0916 from US$1.0899 in the previous session, and the British pound decreased to US$1.2639 from US$1.2690 in the previous session.
The US dollar bought 142.8940 Japanese yen, higher than 142.1810 Japanese yen of the previous session. The US dollar decreased to 0.8685 Swiss francs from 0.8699 Swiss francs, and it rose to 1.3393 Canadian dollars from 1.3369 Canadian dollars. The US dollar was down to 10.2207 Swedish kronor from 10.2656 Swedish kronor.
