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2010.11.0512:45:00UTC+00US Dollar Drops Against Majors Amid Pending Home Sales Data

The US dollar dropped against major currencies after the release of pending home sales data for the month of September at about 12:30 pm ET Friday. The U.S. National Association of Realtors reported that pending home sales index fell by 1.8 percent in September following an upwardly revised 4.4 percent increase in August.

Economists had expected pending home sales to increase by 2.5 percent compared to the 4.3 percent increase originally reported for the previous month.

Currently, the greenback is trading near 1.4067 against the euro, 81.28 versus the yen, 1.6231 against the pound and 0.9589 versus the franc.

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