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Friday, October 27, 2006

Dollar Declines as New Home Prices Fall the Most Since 1970

Oct. 26 (Bloomberg) -- The dollar fell against the euro for a third consecutive day, its longest losing streak in more than a month, and weakened versus the yen after a report showed the U.S. median price for new homes declined the most since 1970.

The U.S. currency also weakened against the South African rand, South Korean won and Swiss franc as further evidence of a cooling housing market supported the Federal Reserve's decision yesterday to keep borrowing costs unchanged.

And the republicans are campaigning on the economy.

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