Reaction: Dollar slumps on weaker-than-expected U.S. pending home sales for May

Our live blog tracked market reaction as euro and sterling rose against the dollar after U.S. pending home sales data for May came in weaker than expected.

Read the analysis below.

A lack of home for sales is being pointed to as a reason for weaker pending home sales.
The euro and sterling have extend gains against the dollar on the news. The dollar index has hit a more than 7-month low of 96.03 after the weaker the home sales data. The euro hit a 1-year high of $1.1390…

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