Dollar erases early gains versus loonie as oil rebounds
The dollar fell sharply versus the loonie Tuesday morning in New York, moving well off its early highs after the price of oil jumped back above $115. The dollar slipped to 1.0486 from an early high of 1.0560.
With the mid-morning plunge, the dollar moved back toward last Friday's multi-week low of 1.0420. The dollar eased across the board following the release of the latest S&P/Case Shiller Home Price Index for June, which showed that nationwide home prices dropped 15.4 percent in June. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved
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