Greenback stays broadly supported after U.S. knowledge

Dollar holds at 8-month peak vs. rivals, U.S. rate hike hopes support

Investing.com – The dollar remained broadly supported at eight-month highs against the other major currencies on Monday, after the release of mixed U.S. data as mounting hopes for a December rate hike by the Federal Reserve continued to support.

rose 0.29% to 123.15.

In the U.S., the National Association of Realtors said its inched up 0.2% last month, disappointing expectations for a gain of 1.5%.

The report came shortly after market research group Kingsbury International said its tumbled by 7.5 points to 48.7 this month from a reading of 56.2 in October. Analysts had expected the index to fall 2.2 points to 54.0 in November.

Meanwhile, the yen came under pressure after data on Monday showed that rose 1.4% in October, disappointing expectations for an increase of 1.9%, after a 1.1% gain the previous month.

slipped 0.18% to fresh seven-month lows of 1.0574.

Sentiment on the euro remained vulnerable as European Central Bank President Mario Draghi has been signaling in recent weeks that the bank is ready to act quickly to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing.

Earlier Monday, data showed that fell 0.4% in October, compared to expectations for a 0.4% rise and after a flat reading the previous month.

In addition, preliminary report showed that rose 0.1% in November, in line with expectations, after a flat reading in October.

Elsewhere, the dollar slipped lower against the pound, with up 0.11% to 1.5046 and was steady against the Swiss franc, with at 1.0288.

Official data earlier showed that rose by £4.8 billion in October, in line with expectations and after a £4.9 billion increase the previous month.

In Switzerland, data showed that the slipped to 97.9 this month from 100.4 in October, whose figure was revised from a previously estimated reading of 99.8. Analysts had expected the index to hit 100.2 in November.

The Australian and New Zealand dollars were stronger, with up 0.62% at 0.7234 and with climbing 0.78% to 0.6583.

The kiwi strengthened after data on Monday showed that the rose to 14.6 in November from 10.5 the previous month. Analysts had expected the index to climb to 15.0 this month.

Meanwhile, slid 0.33% to 1.3335.

Statistics Canada reported on Monday that the country’s narrowed to C$ 16.2 billion in the third quarter from a revised C$ 16.6 billion in the second quarter. Analysts had expected the current account deficit to narrow to C$ 15.2 billion in the last quarter.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at an eight-month peak of 100.21.

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Greenback stays broadly supported after U.S. knowledge