US jobs, housing data push dollar higher vs euro

NEW YORK (AP) — Strong U.S. jobs and housing data are pushing the dollar higher against the euro. Traders also sold the euro on weak economic data from Europe and fears that Cyprus won't come up with a new bailout plan.

The euro fell to $1.2901 in late trading from $1.2943 Wednesday.

The Labor Department says that average unemployment benefit applications over the past month fell to a five-year low. The National Association of Realtors says sales of previously occupied homes rose in February to their fastest pace in more than three years.

In Europe the purchasing managers' index, a measure of business activity in the 17 countries that use the euro, fell to 46.5 in March from 47.9 the previous month.

The British pound rose to $1.5172 from $1.5118.