VIENNA (dpa-AFX) - The dollar was generally stronger on Wednesday, as German Chancellor Angela Merkel insisted her nation would not accept a euro bond solution to the European sovereign debt crisis.
Without full participation from Germany, the region's largest economy, it is feared that any plan to rescue Spain and Italy will fall short.
The dollar rose to $1.2450 versus the euro, edging back toward its yearly highs near $1.22.
Steady gains took the dollar to Y79.80 versus the yen, and the buck rose to $1.5550 versus the slumping sterling.
In economic news from the U.S., pending home sales rebounded by much more than anticipated in the month of May, according to a report released by the National Association of Realtors on Wednesday, with pending sales matching the highest level in the past two years.
NAR said its pending home sales index jumped 5.9 percent to 101.1 in May after falling 5.5 percent to 95.5 in April. Economists had expected pending home sales to show a much more modest 1.2 percent increase.
Driven by strength in the transportation sector, U.S. durable goods orders rebounded by more than expected in the month of May, according to figures released Wednesday by the Commerce Department.
New orders for manufactured durable goods increased $2.3 billion in May, a 1.1 percent increase over revised April levels.
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