|Published:||Oct 19, 2012 2:04 PM EDT|
|Updated:||Oct 20, 2012 6:31 AM EDT|
NEW YORK (AP) - The dollar is rising against most major currencies after U.S. home sales fell last month.
Traders also bought the dollar as European leaders meeting in Brussels failed to come up with any new plans to ease the region's financial crisis.
The dollar is considered a safe haven currency and tends to strengthen during global turmoil.
The euro fell to $1.3023 in afternoon trading from $1.3061 late Thursday. The British pound fell to $1.6012 from $1.6062.
The National Association of Realtors says that home sales fell 1.7 percent to a seasonally adjusted annual rate of 4.75 million. That's down from a rate of 4.83 million in August, which was the highest in more than two years.
The dollar rose to 79.27 Japanese yen from 79.23 yen.