Summary Dollar headed higher Monday versus euro, helped by improving confidence in the US housing sector.
NEW YORK (AFP) - The dollar headed higher Monday, notching its third straight gain versus the euro, helped by improving confidence in the US housing sector.
The greenback rose to $1.1078 per euro, and to 124.41 yen, the latter hit only slightly by Monday s data showing that the Japanese economy contracted 0.4 percent in the second quarter.
The dollar, which also improved to $1.5586 per pound, gained strength as the construction sentiment index of the US National Association of Home Builders rose to a new high since the recession ended in 2009.
In addition, the separate Empire State Manufacturing Survey, covering business in the New York area, showed an improvement in medium-term expectations for the economy even if the views of current conditions fell.
"With Europe essentially flat-lining and Asia now experiencing negative year-over-year growth, the US remains the only region in the world that shows any growth at all," said Boris Schlossberg of BK Asset Management.
The Chinese yuan remained in a holding pattern at about 6.3949 per dollar, virtually unchanged from Thursday, after the August 10 shock devaluation and the Bank of China s announcement it was loosening its controls on the currency s trading range.
