Asian session: The dollar gained versus most major peers

The dollar gained versus most major peers before data that may show an improving U.S. housing market, damping prospects the Federal Reserve will start a third round of asset purchases, or quantitative easing. Sales of existing homes in the U.S. probably climbed to a 4.51 million annual rate last month from a 4.37 million pace in June, according to the median estimate of economists in a Bloomberg News survey before today’s report from the National Association of Realtors.

Demand for the greenback was supported before the U.S. central bank releases today minutes of its most recent meeting. The Fed will release records of its two-day meeting concluded on Aug. 1, when officials refrained from adding new stimulus measures that tend to debase the greenback.

The yen rose against the Australian and New Zealand dollars as Asian stocks declined.

The euro traded 0.2 percent from a six- week high ahead of talks among European leaders this week, beginning with Luxembourg Prime Minister Jean-Claude Juncker’s visit to Greece today to discuss the nation’s request for a two- year extension to its fiscal adjustment program.

EUR / USD: during the Asian session, the pair traded in the range of $ 1.2455-75.

GBP / USD: during the Asian session, the pair traded in the range of $ 1.5765-85.

USD / JPY: during the Asian session, the pair traded in the range of Y79.15-30.

US data gets underway at 1100GMT, when the MBA Mortgage Application Index for the August 17 week is released. The main US data for the session is released at 1400GMT, when July existing homes sales data hits screens. The main US focus for the day will come after the European close, when the FOMC July 31/Aug 1 Meeting Minutes are released at 1800GMT. European events start late, at 1600GMT, when Greek PM Antonis Samaras starts his make-or-break round of meetings by entertaining Eurogroup head Jean-Claude Juncker, in Athens.