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Dollar struggles under new housing data

This article was originally published in Dairy Markets

The euro has made gains overnight against the dollar, rising above €1 = $1.4260, not far short of an all-time peak of €1 = $1.4349 reached on Monday. The dollar was struggling after data yesterday showed that US existing home sales slumped to a record low in September, cementing expectations that the Federal Reserve Bank will cut interest rates at next week's meeting.

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