Dollar May Resume Drop Against Euro, Pound as U.S. Housing Slump Deepens

(Bloomberg) -- The dollar may reach a record low
against the euro on evidence the U.S. housing sector is heading
into a deeper slump.

The currency may also weaken versus the pound on tomorrow's
National Association of Realtors report forecast by economists
to show U.S. existing-home sales fell last month to the lowest
in four years. Federal Reserve Chairman Ben S. Bernanke
testified before Congress last week that there will be
``significant'' losses on loans to homeowners with poor credit.


Read more at Bloomberg Currencies News