The dollar fell for a second day against the euro before government housing and
inflation reports that may add to speculation the Federal Reserve will delay
increasing interest rates.
The currency declined from a
four-month high versus the yen as economists at Moody's Investors Service Inc.
and ABN Amro Holding NV said the Fed won't be in a hurry to raise borrowing
costs.
Gains in the euro may be limited by speculation investor confidence in Germany
fell to a 15-year low this month. The ZEW Center
for European Economic Research will say its index of investor and analyst
expectations fell to minus 42.5 from minus 41.4 in May, according to a
survey.
EUR/USD tested
$1.5555 before it retreated to $1.5528.
GBP/USD slowly
rose from $1.9690 before sliding to $1.9672.
USD/JPY fell
from Y108.00 to Y107.60.
Later focus will be on US data, including Housing starts, Building permits, PPI and Industrial production.