GBP/USD printed high on $1.9985 before sliding to the lows on $1.9905.
USD/JPY fell from Y106.95 to Y106.50.
The dollar declined against the yen for the
first day in four on speculation reports on U.S. home sales and durable-goods
orders will encourage the Federal Reserve to delay raising interest rates.
The currency also traded near a
record low versus the euro after U.S. Treasury Secretary Henry Paulson
told CBS News yesterday the economy is in a ``challenging time'' and probably
will have slow growth for months because of higher oil prices.
The pound
fell after an industry report showed U.K. house prices dropped the most
since at least 2002. The pound slid for a second day as a Rightmove Plc report
showed U.K.
house prices fell 2% in July from a year earlier, the first annual drop since 2002.
Sales of previously owned homes in the U.S. declined to a 4.93 million annual pace in June, from 4.99 million in May, according to the median estimate of economists. The National Association of Realtors will release the report on July 24.