Dollar Rises Against Major Counterparts
(RTTNews) - The U.S. dollar climbed higher against most of its major counterparts on Wednesday, after bond yields rose on hopes the Chinese economy will see decent growth following the loosening of Covid-19 curbs.
In U.S. economic news, a report released by the National Association of Realtors unexpectedly showed a continued slump in U.S. pending home sales in the month of November.
NAR said its pending home sales index tumbled by 4% to 73.9 in November after plunging by 4.7% to a revised 77.0 in October. The extended nosedive came as a surprise to economists, who had expected pending home sales to increase by 0.6%.
The dollar index, which dropped to 103.85 around mid morning, climbed to 104.56, gaining nearly 0.4%.
Against the Euro, the dollar firmed to 1.0613 from 1.0642.
The dollar is stronger against Pound Sterling at 1.2020, compared with 1.2031 on Tuesday.
Against the Japanese currency, the dollar strengthened to 134.46 yen, gaining from 133.50 yen.
The dollar is down slightly at 0.6739 against the Aussie, and strengthened against Swiss franc, fetching CHF 0.9289 a unit.
Against the Loonie, the dollar firmed to fetch C$1.3606, more than 0.6% up from the previous close of C$1.3522.
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