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U.S. dollar rises on upbeat data

Xinhua, May 25, 2016 Adjust font size:

The U.S. dollar climbed against most major currencies on Tuesday as economic data from the country came out positive.

U.S. sales of new single-family houses in April were at a seasonally adjusted annual rate of 619,000, well above market consensus of 523,000, said the U.S. Commerce Department Tuesday.

The latest reading was 16.6 percent above the revised March rate of 531,000 and 23.8 percent above the April 2015 estimate of 500,000.

The upbeat data bolstered market expectation of an interest-rate hike as early as next month.

The dollar index, which measures the greenback against six major peers, was up 0.37 percent at 95.583 in late trading.

In late New York trading, the euro declined to 1.1148 dollars from 1.1223 dollars of the previous session, and the British pound increased to 1.4635 dollars from 1.4482 dollars. The Australian dollar went down to 0.7176 dollars from 0.7224 dollars.

The dollar bought 110.00 Japanese yen, higher than 109.20 yen of the previous session. The dollar rose to 0.9928 Swiss francs from 0.9894 Swiss francs, and it inched up to 1.3146 Canadian dollars from 1.3133 Canadian dollars. Enditem