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The dollar was mixed Tuesday morning in New York ahead of the latest report on the housing sector, which has shown signs of a double-dip following the expiration of a homebuyer tax credit in April.
The Department of Commerce will release its report on housing starts and building permits for June at 8.30 a.m. ET. Economists estimate housing starts of 575,000 for June.
The buck was able to steady versus the euro after briefly touching a fresh 2-month low of 1.3027. From there, the buck improved a penny to 1.2920. Europe's debt crisis has shown signs of easing over the past few weeks, helping the euro bounce back from multi-year lows versus a number of counterparts.
Spain's Treasury sold 5.97 billion euros ($7.75 billion) of 12- and 18-month Treasury bills on Tuesday at falling yields, joining Ireland and Greece in successfully auctioning bonds in the private markets.
However, Hungary's bond offering was unsubscribed after loan talks with the IMF broke down over demands for further austerity.
Greece's current account balance, which is the widest measure of the country's trade balance, swung to a surplus in May compared to the same month a year ago, official figures show.
A surplus of EUR 250 million was recorded in May, compared to a deficit of EUR 1.93 billion registered a year ago.
The dollar fought back versus the sterling Tuesday morning, rising to a weekly high of 1.5175. With the advance, the dollar paused from a nearly two-month downtrend.
The buck stabilized versus the yen amid speculation that Japanese officials will act to prevent the yen from rising much further. Late last week, the dollar hit a 2010 low of 86.25.
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