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US housing starts rise to one-year high

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U.S. housing starts rose to a one-year high in October, surpassing analysts’ forecasts, the Commerce Department data showed Friday.

Housing starts surged to 1.29 million units, the highest level since October 2016, from a revised of 1.14 million, coming above estimates of 1.19 million.

Building permits came in at 1.30 million, compared to a revised of 1.23 million, while analysts had predicted 1.25 million.

As of 13:34 GMT, the U.S. dollar traded slightly lower versus a basket of major currencies at 93.82, set for a second straight weekly loss.

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