国际英语新闻：Dollar rebounds as weak housing data overshadows strong earning reports

NEW YORK, Oct. 20 (Xinhua) -- The dollar rebounded slightly against most major currencies on Tuesday after a disappointing housing starts report overshadowed strong earning reports of some major companies.

    Technology giant Apple's profit surged 47 percent in the latest quarter on strong iPhone and Macintosh computer sales. Earning reports of equipment manufacturer Caterpillar and heath insurer United Health were also encouraging. But the results failed to lift market sentiment amid weak housing data.

    U.S. housing starts edged up 0.5 percent in September to an annual rate of 590,000, lower than expected, the Commerce Department reported. Single-family starts increased 3.9 percent and multi-family starts tumbled 15.2 percent. New building permits, a forwardly looking measure of housing activity, fell 1.2 percent in September. Single-family permits fell 3.0 percent. August and September's single-family permits readings point to flat or small declines in single-family starts during October and November, analysts said.

    If single family permits declines repeated in subsequent months, this would be a worrying sign for the housing market as it may indicate builders remain cautious about the recovery.

    A government tax credit for new homeowners boosted home sales and housing starts in the previous months. The program is set to expire at the end of November.

    Overall U.S. producer prices declined by 0.6 percent in September as energy prices fell sharply, according to the Labor Department. Core producer prices excluding energy and food dipped 0.1 percent. The report signaled that inflation pressures in U.S. are weak enough to keep interest rates at ultra-low levels.

    The euro at a level of 1.50 dollars is a disaster for European industry and the economy and results from the policy aimed at inflating away its debt, said Henri Guaino, a top adviser to French President Nicolas Sarkozy. The single currency touched 1.4994, highest level in 14 months, in Asian trading hours of Tuesday. It retreated in New York trading after failing to breach the technical barrier of 1.50 dollars.

    The euro bought 1.4928 dollars in late New York trading compared with 1.4944 dollars it bought late Monday. The pound fell to 1.6359 dollars from 1.6370 dollars. The dollar rose to 1.0505 Canadian dollars from 1.0288 Canadian dollars, and fell to 1.0129 Swiss francs from 1.0131 Swiss francs. It rose to 90.74 Japanese yen from 90.65 Japanese yen.