NEW YORK, Jun. 22, 2010 (Xinhua News Agency) -- The dollar strengthened against the euro on Tuesday as re-emerging concerns over euro zone banks and disappointing housing data turned investors rise-averse.
According to the U.S. National Association of Realtors, existing home sales fell 2.2 percent in May to an annual rate of 5. 66 million units from an upwardly revised 5.79 million units in April, while economists had expected a rise.
Meanwhile, renewed concerns over European debt crisis weighed on the market as Fitch Ratings cut its ratings on BNP Paribas SA, the largest bank in the euro zone by deposits.
In late New York trading, the euro dipped to 1.2268 dollars from 1.2324 dollars late Monday, while the British pound edged higher to 1.4815 dollars from 1.4762 dollars.
In other trading, the dollar fell to 90.52 Japanese yen from 90. 99 yen, slipped to 1.1075 Swiss francs from 1.1114 francs, but edged up to 1.0286 Canadian dollars from 1.0231 Canadian dollars late Monday.
