Dollar erases losses vs yen after U.S. housing data

NEW YORK, July 30 Tue Jul 30, 2013 9:10am EDT

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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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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