Dollar mixed against major currencies in light trading amid positive US economic reports

Dollar mixed vs major currencies in thin trading

NEW YORK — The dollar was mixed in thin trading Monday as reports that showed the U.S. service sector has grown at its fastest pace in more than two years and pending home sales rose sharply.

Many Asian markets including China and most European markets were closed Monday for an extended Easter holiday. The Japanese and U.S. markets were open, however.

The dollar has been gaining steadily this year as debt concerns hit Europe and the recovery in the U.S. economy strengthens.

The 16-nation euro dipped to $1.3486 from $1.3487 late Friday, while the British pound rose to $1.5298 from $1.5198. The dollar slipped to 94.24 Japanese yen from 94.54 yen.

The Institute for Supply Management, a trade group, said Monday its service index rose to 55.4 in March from 53 in February. Any reading above 50 signals expansion.

It is the strongest pace of growth since ISM revised how it measured the service sector in January 2008.

Meanwhile, the National Association of Realtors said pending home sales rose sharply in February to beat expectations as buyers took advantage of government incentives before a deadline at the end of this month.

The index is considered a barometer for future sales activity because there is typically a lag of one to two months between a signed sales contract and a completed deal.

In other late trading Monday, the dollar fell to 1.0031 Canadian dollars from 1.0106 late Friday, but edged up slightly to 1.0624 Swiss francs from 1.0623 francs.