The ongoing weakness in the U.S. housing market could spark a larger-than-anticipated drop in pending sales of existing homes, and the data is likely to spark increased volatility the exchange rate as investors as investors weigh the prospects for future growth.

As the economic rebound in the U.S. cools, a slower pace of expansion in manufacturing could drag on the greenback as policy makers expect to see a moderate recovery going forward given the ongoing weakness within the private sector.

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