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FXstreet.com (San Francisco) - The US dollar traded lower on Tuesday as investors are assuming that the Fed could remove language that signs the asset-purchase tapering this year. The idea comes from the weaker than expected Chicago PMI that April's figures showed contraction.
On the other side, housing prices jumped 9.3% in February and the Consumer Confidence rose well above expectations to 68.1 points in April. In Europe, Cyprus's parliament approved the EU bailout.
The EUR/USD rose to the highest level since April 17th at 1.3185. The GBP/USD extended its advance to trade at maximums since February at 1.5565 while the USD/JPY declined further to test the 97.00 level.
Main headlines in the American session:
US: S&P/Case-Shiller Home Prices Indices beats consensus, up by 9.3% in February
US: Chicago PMI disappoints at 49 in April
US: Consumer Confidence surprises and jumps to 68.1 in April
Cyprus' parliament approves EU bailout
Moody's downgrades Slovenia to Ba1, outlook negative