Global Biz

Euro falls against US dollar after topping two-month high

Updated: 2010-07-21 10:17

NEW YORK - The euro fell against the US dollar on Tuesday as Europe is set to release stress tests on European banks later this week.

The euro briefly rose above 1.30 dollars before falling to 1. 2895 dollars in late New York trading after the release of the weak US data and Goldman earnings.

Related readings:  Dollar dips to new low against euro  Euro moves takes shine off yellow metal  US dollar falls to 7-month low against Japanese yen  Russia may diversify holdings on dollar, euro fluctuations

The US Commerce Department said on Tuesday that home construction fell in June to the lowest level since October. However, the decline was mitigated by a 2.1-percent rise in building permit applications, an indicator of future activity.

The British pound edged up to 1.5263 dollars from 1.5237 dollars, while the dollar rose to 87.21 Japanese yen from 86.77 yen.

The dollar slipped to 1.0471 Canadian dollars from 1.0549 Canadian dollars after the Bank of Canada lifted interest rates. The dollar dropped to 1.0504 Swiss francs from 1.0529 francs.