The dollar traded near a one-month low against the euro on speculation U.S. reports
tomorrow will show a slump in home prices accelerated and consumers were the
most pessimistic in at least 15 years.
The U.S.
currency fell versus the Canadian dollar and held near a 25-year low against
the Australian dollar
after oil and gold prices gained, improving the outlook for commodity exporters.
Futures on the Chicago Board of
Trade showed a 42% likelihood the Fed will hold its target lending rate at 2%
percent this year.
The euro may be supported by speculation the 15 countries that share the currency are strong
enough to withstand a slowdown in the U.S., allowing the European Central Bank
to keep interest rates on hold to fight inflation.
Consumer prices in the euro region
rose 3.5% in May, faster than the 3.3% gain in the previous month, according to
a survey.
EUR/USD held
within the $1.5750/90 range.
GBP/USD printed
high on $1.9830 before sliding to $1.9790.
USD/JPY tested
Y103.11 before rebounding Y103.29.
US and UK markets are closed Monday in observance of national holidays.