Dollar Slips Vs. Yen After New-home Sales Report

The dollar slipped vs. the Japanese yen Friday after official data showed June was the weakest month for new-home sales in seven. After the report, the dollar traded at 123.80 yen, down from 124 ahead of data. The dollar initially tumbled against the euro and pound after the report, but quickly trimmed its losses. The euro recently traded at $1.0968, little-changed from its level ahead of the data. The pound traded at $1.5503, also little-changed. The weak data cast doubt on the strength of the U.S. housing market, seemingly contradicting a report from earlier in the week which showed a strong pace of sales for existing U.S.