The dollar remained broadly lower against other currencies on Friday, as downbeat housing data dragged the currency down. The greenback still hovered near a 14-year high, supported by the Fed’s decision to raise interest rates.
The Commerce Department reported that housing starts plummeted 18.7% to 1.090 million units in November, down from 1.340 million units in October.
Analysts expected November’s reading to come in at 1.230 million units.
Building permits in the U.S. declined by 4.7% to 1.201 million units in November from 1.260 million in October. Analysts were expecting units to fall by 1.240 million units last month.
The greenback rallied after the Federal Reserve raised rates by 25 basis points, and projected three hikes for 2017.
The euro gained 0.29% against the dollar to 1.443. The pound gained 0.19% against the greenback, trading at 1.2435.
The pound was still supported by the Bank of England’s decision to hold interest rates at a low of 0.25% and maintain the bond-buying program target of £435 billion.
Meanwhile, the dollar gained against its Canadian counterpart on Friday.
USD/CAD climbed to 1.3384 in early U.S. trade.
Data out of Canada showed that foreign securities purchases climbed by C$15.75 billion in October, surpassing expectations of a C$12.35 billion increase.
Foreign securities purchase increased by C$11.79 billion in September, a figure that was revised up from C$11.77 billion.
The Canadian dollar was lower against the euro, gaining 0.45% to 1.3951.
The yen recovered ground against the dollar after the Fed’s decision sent the currency surging. The currency was trading at 118.37 against the dollar.
Elsewhere, the Australian and New Zealand dollars were both weaker against the dollar. The Aussie declined against the dollar by 0.37% to 0.7331. The kiwi fell against the dollar, down 0.51% to 0.7001.
The dollar index fell 0.17% to 102.97, still hovering near a 14-year high of 103.56.