Dollar loses ground on deepening US Housing Recession (DailyFx) (26-05-2008)

The housing sector continues to have serious problems in the U.S. and this in turn weighs on the US dollar. It kept traders from bidding the currency before the extended holiday weekend. 

The euro resumed its advance and rose just short of 1.58. The British Pound however held steady throughout the session as growth concerns led the currency to hold in the 1.98 range. The greenback also declined against the Australian and New Zealand dollar as commodity prices pushed higher - though the Canadian dollar didn’t join the crowd as traders squared their books for the weekend.

  Source DailyFx