The dollar fell by the most in two weeks against the euro on concern a U.S. report today will show home prices declined, backing the case for the Federal Reserve to keep interest rates near zero.
The dollar weakened as economists surveyed said the S&P/Case-Shiller Index of property values will show its first decline since January.
Australia’s dollar rose to a six-week high on speculation China will succeed in curbing inflation, underpinning demand for higher-yielding assets. South Korea’s won reached the highest level in two weeks on prospects Asian economies are improving.
The S&P/Case-Shiller gauge of residential real-estate values declined 0.6 percent in October from the prior month, when it fell 0.8 percent, economists said before today’s data. The gauge lost 0.2 percent from a year earlier, the survey showed, and the index was down 29 percent in September from its July 2006 peak.
EUR/USD: the pair shown high in the field of $1,3260.
GBP/USD: the pair shown high in the field of $1,5490 then decreased.
USD/USD: the pair decreased in around Y82,30.
US data starts at 1400GMT with S&P/Case-Shiller Home Price Indices
Later data includes Consumer confidence at 1500GMT.
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