US: Housing Starts decline by 10.3% in February, Building Permits fall by 10.8%

• Housing Starts and Building Permits in US fell sharply in February.
• US Dollar Index clings to modest daily gains a little below 92.00.

Housing Starts in the US declined by 10.3% on a monthly basis in February following January's 5.1% decline, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday. 

Further details of the publication revealed that Building Permits fell by 10.8% in the same period and erased all of January's increase.

Market reaction

The greenback largely ignored this report as investors remain focused on the Treasury bond yields ahead of the FOMC's policy announcements. As of writing, the US Dollar Index was up 0.12% on the day at 91.97.