The EUR/USD exchange rate continued gradual increase to get through the 1.1800 level in the wake of the dim US housing market data. Following the release, the Euro gained against its American rival 11 base points or 0.10% to the 1.1769 mark.
The Commerce Department revealed that building permits fell to 1.13M in the month of September, adding to concerns that the recovery of the property market was stalling. Meanwhile, homebuilding in the US dropped to the weakest level in a year in reported period, as Hurricanes Irma and Harvey caused the disruption of single-family homes construction in the South, which could drag the country’s GDP growth in the September quarter.
