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Dollar Deepens Losses on Housing Report

The dollar extended losses against the euro and the yen Thursday after U.S. pending home sales were unchanged in January, doing little to allay investor worries over the deteriorating U.S. economic outlook.

The euro gained against the dollar after the pending home sales report. It earlier surged to a historic high of $1.5372, according to Reuters data. The dollar fell versus the yen .

The National Association of Realtors Pending Home Sales Index, based on contracts signed in January, held steady at 85.9. Economists were expecting pending home sales, a key gauge of future home sales activity, to fall by 1.0 percent.

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