Dollar trims losses after US data beat forecasts

NEW YORK - The dollar trimmed modest losses on Tuesday after release of data showing US consumer confidence and existing home sales both exceeded market expectations.

By (Reuters)

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Published: Tue 25 Jul 2006, 10:43 PM

Last updated: Sat 4 Apr 2015, 1:08 PM

The euro slipped to $1.2635 from around $1.2665 just before the data, while the dollar ticked up to 116.75 yen from around 116.60 yen.

Existing home sales fell in June but by less than economists had expected, while July consumer confidence inched up, defying forecasts of a slight drop. After the data, markets priced in a 57 percent chance of another US interest rate hike next month, compared with 49 percent before the data.

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