US dollar sinks versus euro again

Story link: US dollar sinks versus euro again

The US dollar hit yet another new record low in relation to the euro on Thursday after new data showed that new home sales in the United States dropped by 8.3 percent in August, to their lowest level in almost ten years.

The news sent the greenback as low as $1.4189 versus the shared currency and it remained 0.3 percent lower at $1.4170 in midday trade in New York.

In addition the dollar was at 78.159 on the dollar index, which tracks the dollar against six leading currencies, its lowest level since the Federal Reserve introduced the index in 1973.

The yen weakened as investors sold it as they sought out carry trades, dropping 0.3 percent to ¥163.60 versus the euro, falling 0.6 percent against the Australian dollar to ¥101.84 and sinking 0.9 percent to ¥86.67 in relation to the New Zealand dollar.

Despite these other declines, the yen traded even against the US dollar at ¥115.45.

In the UK, sterling gained ground on a survey from Nationwide building society which indicated that house prices were up more than had been anticipated in September.

Sterling added 0.2 percent versus the euro to £0.6995 while it gained 0.5 percent in relation to both the US dollar and the yen, to $2.0250 and ¥233.75 respectively.