Pending US Home sales rise to an All-time high

The National Association of Realtors said today that the pending home sales index in the United States rose 44.3% to 99.6 points in May, the biggest increase since the series started in 2001.

Analysts had expected pending home sales to increase by 18.9 points in May, and on an annual basis, pending home sales fell by 5.1% during the twelve months to May compared to the same period last year.

The US dollar rose against the major currencies today, as the dollar rose against the sterling by 0.4% to hit 1.2283 dollars, and the main dollar index, which measures the currency's performance against 6 major currencies, increased 0.08% to 97.56.