MW: Dollar weakens after sentiment, home sales data
By Nick Godt
NEW YORK (MarketWatch) -- The dollar weakened in morning trade Friday, as stocks came off earlier lows after U.S. economic reports that showed consumer sentiment rose more than expected, while new-home sales rose 0.7% to a 429,000 pace in August, slower than predicted. The dollar index (DXY 76.83, -0.07, -0.09%) , which measures the U.S. unit against a basket of six major currencies, stood at 76.839, down from 76.901 late Thursday. The Reuters-University of Michigan consumer sentiment index was revised to 73.5 in September, compared to a previous estimate of 70.2 and 65.7 in August. Analysts anticipated new-homes would reach a 440,000 pace and the consumer sentiment index would improve slightly to 70.5.
