The EUR/USD currency pair continued to appreciate on the better-than-expected data on home sales in the US. The Greenback lost 7 base points against the Euro to keep strengthening further to the 1.1895 area.
The US home sales rose more than anticipated in November to reach the highest level in 11 years, indicating that the property market growth started to regain momentum after procrastination for the most of the year. The National Association of Realtors stated that the country’s exciting home sales increased 5.6% to a seasonally adjusted yearly rate of 5.81M units due to lingering recovery of hurricanes-hurt areas. However, the market activity remained constrained by a shortage of available properties, which kept prices elevated.
