The euro was lower against the U.S. dollar Monday after the sales of existing U.S. homes posted an unexpected increase in February, giving the dollar some strength on a day that most financial markets in Europe were closed for the Easter holidays.
The 15-nation currency bought US$1.5381 compared to US$$1.5443 in trading Friday when markets were closed for the start of the holiday, pushed lower by the U.S. housing report.
The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of just more than 5 million units. In the previous six months, sales had fallen, something analysts had been expecting again last month.
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