U.S Dollar gains
U.S Home Resales declined in May with 4.81 million rather than April's annualized 5 million Existing Homes Sold. Although May's figure was disappointing compared to previous release; Home Resales didn't do all that bad as May's 4.81 million was very close to economists prediction.
The U.S Dollar, despite the fall in Home Resales, seemed to shoot upward against most major currencies. USD/JPY saw a huge rise after U.S news releases. Before U.S Home Resales the pair was trading at 80.112; after the release the Dollar shot up versus the Yen to 80.167. Currently the pair is trading at 80.145
The Euro is still keeping strong against the Dollar, as it has seen many consecutive days of boosting. The pair traded today's session strongly along the lines of 1.4350, with a 1.4380 high. A quarter before U.S announcements, the pair traded at 1.4376, and fell to 1.4366 after the release. This didn't last long as a quarter of an hour later the Euro rebounded back to 1.4375.
