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Housing starts surge to highest level since 2007

Housing starts rose 9.8 percent to a 1.17 million annualized rate from a revised 1.07 million in May that was stronger than previously estimated, figures from the Commerce Department showed Friday in Washington. The median estimate of economists surveyed by Bloomberg was a 1.11 million rate. Ground-breaking on multifamily dwellings jumped 29.4 percent.

Housing starts surge to highest level since 2007

Housing starts rose 9.8 percent to a 1.17 million annualized rate from a revised 1.07 million in May that was stronger than previously estimated, figures from the Commerce Department showed Friday in Washington. The median estimate of economists surveyed by Bloomberg was a 1.11 million rate. Ground-breaking on multifamily dwellings jumped 29.4 percent.

Dollar, stocks look set for biggest weekly gains in months

The dollar headed for its biggest weekly rise since May on Friday as economic data reinforced expectations of a U.S. interest rate hike this year. Sterling hit its highest against the euro in more than 7-1/2 years after Carney said the decision to raise rates will come into “sharper focus” around the end of 2015, his strongest hint yet about the timing of the bank’s next move.

Dollar, stocks look set for biggest weekly gains in months

The dollar headed for its biggest weekly rise since May on Friday as economic data reinforced expectations of a U.S. interest rate hike this year. Sterling hit its highest against the euro in more than 7-1/2 years after Carney said the decision to raise rates will come into “sharper focus” around the end of 2015, his strongest hint yet about the timing of the bank’s next move.