The
dollar fell against the major currencies on Thursday. President Obama told the
world that “something will be done” to steer the country away from the fiscal
cliff, which boosted the euro on sentiment U.S. policymakers will put politics
aside and make tough tax and spending reforms needed to avoid the cliff. U.S.,
the Commerce Department reported earlier that new home sales fell by 0.3% to a
seasonally adjusted 368,000 units in October, confounding expectations for an
increase to 390,000.
Later
Thursday, the U.S. is to produce revised data on third quarter gross domestic
product, as well as data on pending home sales and initial jobless
claims.
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