Dollar rises, lifted by lower oil, housing bill

By Wanfeng Zhou NEW YORK (Reuters) - The dollar rallied to a one-month peak against the yen and a two-week high against the euro on Wednesday, buoyed by a further drop in oil prices and improved confidence in the U.S. financial sector. Oil prices, which are currently trading more than $20 below this month's record peak of $147.27, extended their decline Wednesday following the U.S. crude inventory data, giving the greenback a generally bid tone. At the same time, the U.S. House of Representatives prepared to vote on a measure that is expected to help the housing sector recover from its worst downturn since the Great Depression. The White House said President George W. Bush will sign the bill into law. "U.S. equities, oil prices and a little bit of hangover from yesterday's hawkish Fed speak have kept the dollar supported so... [read full story]