Dollar stable as US housing recovery gains momentum

Currencies Direct January 30th 2013 - < 1 minute read

Dollar currency
exchange rates
are stable against the euro and pound this
morning (January 30th), as fresh data reveals the US housing
recovery is gaining momentum.

According to the widely-monitored Case-Shiller index, property
prices rose by 5.5 per cent in November compared to the same month
a year ago.

This is the fastest increase since the market crash hit the sector
in 2006.

However, a different report suggests US consumer confidence
suffered a knock this month, as income and payroll tax hikes came
into effect.

The Conference Board’s Consumer Confidence Index slipped to 58.6
in January from December’s 66.7 – the biggest drop since August

It is believed the protracted debate over how best to tackle the
US budget deficit might be affecting sentiment, as the situation
indicates uncertainty in the markets.

At 08:30 GMT, the dollar was steady against both the euro and
sterling at 0.740 EUR and 0.634 GBP.

Written by
Currencies Direct

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