Greenback loses to euro, yen

The US dollar hit a new low against the euro for the fourth session in a row on Tuesday, trading at $1.4153 versus the shared currency at one point in the session and at $1.4146 in late afternoon in New York.

The decline came on the heels of two housing reports that showed that existing home sales were lower in August and that home values dropped the most in 16 years in July, as well as on a report that US consumer confidence dropped again in September.

Elsewhere, the dollar dropped to ¥114.55 versus the yen but was higher versus sterling and the Canadian dollar.

The pound was hurt by worries that deposit insurance in the UK might not cover all customers’ deposits up to £100,000 as is guaranteed and by a report from the International Monetary Fund that compared the UK non-conforming mortgage market to subprime lenders in the US.

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