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U.S. dollar mixed on soft data

Xinhua, October 20, 2016 Adjust font size:

The U.S. dollar traded mixed against other major currencies on Wednesday as economic data from the country came out below expectations.

U.S. privately-owned housing starts in September were at a seasonally adjusted annual rate of 1.047 million units, missing market consensus of 1.180 million units, the Commerce Department announced Wednesday.

The latest reading was 9.0 percent below the revised August estimate of 1.150 million units, and was 11.9 percent below the September 2015 rate of 1.189 million units.

The greenback had advanced nearly 3 percent since the end of September amid expectations that the Federal Reserve may raise interest rate-hike by year-end. Investors took profits from recent gains on Tuesday and Wednesday.

In late New York trading, the euro fell to 1.0966 dollars from 1.0982 dollars, and the British pound slipped to 1.2274 dollars from 1.2295 dollars. The Australian dollar increased to 0.7717 dollars from 0.7667 dollars.

The dollar bought 103.38 Japanese yen, lower than 103.87 yen in the previous session. The dollar inched down to 0.9896 Swiss francs from 0.9901 Swiss francs, and it rose to 1.3126 Canadian dollars from 1.3119 Canadian dollars. Enditem