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USD/CHF falling apart on dismal US housing data

FXstreet.com (Athens): The USD/CHF pared all of its daily gains after discouraging US new homes sales.

Depressing US housing data tumble the American dollar

Need for ‘safe-haven’ assets stroke back, as soon as new home sales release let down traders. Existing home sales released down 13.4% (394K), versus -2.0% (487K) expected, from 455K (+3.6%), smashing the American dollar across the board. The massive greenback sell-off, was also boosted on quotes saying that Fed’s Bullard on Jackson’s Hole symposium, said that ‘1.5% inflation floor would show FOMC serious on prices’. What’s more, USD sharp sell-off might also have to do with …read more