Dollar erases losses vs yen after U.S. housing data
NEW YORK, July 30
NEW YORK, July 30 (Reuters) - The dollar turned higher against the yen on Tuesday after data showed U.S. single-family home prices rose in May.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 1 percent on a seasonally adjusted basis, shy of economists' forecast for a 1.5 percent increase. On a non-adjusted basis, prices rose 2.4 percent.
The rise in May's home prices was the biggest annual gain since March 2006, matching a record set in April.
The dollar rose as high as 98.01 yen after the data from about 97.88 just before. It was last at 97.99, slightly up on the day.