NEW YORK: The dollar stood mixed against other major currencies on Wednesday after a 6.1 percent jump in U.S. home sales data lifted expectations that Federal Reserve policymakers may soon hike interest rates.
A National Association of Realtors report showing an increase in March of existing home sales to an annual rate of 5.19 million units, the highest level since September 2013, suggested the U.S. economy may be shrugging off sluggishness. The percentage increase was the largest since December 2010.
Economists polled by Reuters had forecast home resales rising to only a 5.03-million-unit pace last month.
The euro, which earlier traded at $1.08 against the dollar, was last up 0.08 percent to $1.0742 amid an absence of major news about the Greek financial crisis, which has been pressuring the euro zone currency.
The greenback was up 0.20 percent against the yen at 119.88 yen, while the dollar index was last off 0.09 percent.
In a subdued session for most major currencies, sterling topped $1.50 against the dollar after Bank of England minutes emphasized hopes for a further improvement in the British economy over the next year. It was last trading up 0.80 percent at $1.5041, after earlier touching a five-week high of $1.5079.
The Swiss franc fell more than 1 percent against the dollar and the euro after the Swiss National Bank said it was slashing the number of institutions exempt from negative rates on cash deposits held at the central bank.
The move increased the chances that the SNB could take interest rates deeper into negative territory, especially if financial flows into the safe-haven Swiss franc increase due to Greece's debt problems in the euro zone, according to analysts.
The dollar was last up 1.5 percent against the Swiss franc at 0.9688 franc.
Many investors say the euro could fall below parity with the dollar if Greece, which is at risk of running out of money in May or June, exits the common currency. The market currently believes European policymakers will avert that scenario.
Many currency traders were on hold, awaiting more data on the U.S. economy and next week's meeting of the Fed's policymaking committee, according to Vassili Serebriakov, currency strategist at BNP Paribas.
"The Fed is in the blackout period before the meeting. Markets have not been reacting that much to the Greek headlines. There are just not a lot of drivers," he said.
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