LONDON, May 25: The dollar weakened on Friday after data that was released on existing home sales in the United States undershot market expectations, fuelling fears about the extent of an economic slowdown there.

In late European trade, the euro rose to $1.3450, from $1.3428 late on Thursday in New York.

The dollar advanced to 121.72 yen, from 121.37 late on Thursday.

On Wednesday the US currency had reached 121.88 yen -- the highest level since February 13.

Figures released on Friday showed that US sales of existing homes fell by 2.6pc to an annual rate of 5.99m in April, compared with forecasts for a more moderate fall to 6.115m units from the March level of 6.120m.—AFP