The dollar surged this morning against the Mexican peso after President Trump tweeted that he remains committed to building a wall along the Mexican border. The dollar rose 1.4% to 18.99, its strongest level in a month, after trading at 18.73 late Monday in New York. Yesterday, Trump told a group of reporters that he would drop his demand that funding for the border wall be included in a bill that must be passed by the weekend to avert a government shutdown. Instead, he said, his administration will return to the issue in September.
The Commerce Department reports sales of newly constructed homes ran at a seasonally-adjusted annual rate of 621,000. That was 5.8% higher than February’s downwardly-revised sales pace, and 15.6% higher than a year ago. The median sales price was $315,000, up 7.5% from last month, but only 1.2% higher compared to a year ago. There were 5.2 months of supply, down slightly from 5.4 months in February.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
