November 20, 2012 / 1:50 PM / 5 years ago

Dollar slightly pares gains vs yen after US housing data

NEW YORK, Nov 20 (Reuters) - The dollar slightly pared gains versus the yen on Tuesday after U.S. housing starts data suggested the housing market recovery was gaining steam, even though permits for future construction fell.

The dollar last traded at 81.50 yen, up 0.1 percent on the day. It was trading at 81.52 before the release of the data.

The euro rose as high as $1.2821. It last traded at $1.2814, flat on the day and about where it was trading before the data, according to Reuters data.

U.S. housing starts rose to their highest rate in more than four years in October, suggesting the housing market recovery was gaining steam, even though permits for future construction fell.

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