The dollar rose against most major currencies on Tuesday as latest economic data continued to show weakness in US economy.

The national median price of a single-family home in US fell in the third quarter by a record 9 percent year-to-year, the National Association of Realtors (NAR) reported on Tuesday. A flood of foreclosures has driven home prices down, NAR said.

The National Association of Home Builders (NAHB)/Wells Fargo housing market index for November fell to a seasonally adjusted reading of 9, the lowest recorded level since the index began in 1985. It showed that US homebuilders' confidence in the housing market fell to record low amid poor financial market conditions, rising unemployment and consumer anxiety.

The US Labor Department's Producer Price Index decreased 2.8 percent in October, after easing 0.4 percent in September. It was the sharpest one-month decline on record and much more than expected. Economists said inflation is moderating, which could give the Federal Reserve some leeway when it comes to lowering interest rates.

The euro bought US$1.2579 in late New York trading compared with US$1.2677  it bought late Monday. The pound fell to US$1.4916 from US$1.5023.

The dollar rose to 1.2043 Swiss francs from 1.1982 Swiss francs, and dipped to 96.46 Japanese yen from 96.50 Japanese yen. It rose to 1.2375 Canadian dollars from 1.2225 Canadian dollars.

(Xinhua News Agency November 19, 2008)