The dollar fell briefly after data unexpectedly showed the second consecutive monthly fall in US durable goods orders during August, but recovered soon after as dollar sentiment remains positive. The figures showed new orders for durable goods fell by 0.5 pct in August after falling a downwardly-revised 2.7 pct in July, against expectations for a 0.4 pct rise. This is the first time durable goods have fallen for two consecutive months since April and May 2004. "Two months in a row of weak durable goods orders are stoking the hard-landing fears again, boosting the euro/dollar rate," said Jamie Coleman at Thomson IFR Markets. However, euro rallies "seem cautious" at the moment, with dealers "mindful" of yesterday's slide in the euro despite better-than-expected German Ifo data. At 1.09 pm GMT, the euro was trading at 0.2692 against the dollar, having reached a high of 1.2719 immediately following the data. Just before the data were released, the euro was trading at 1.2680 usd. Also waited later this afternoon are the latest US new home sales data. Existing home sales figures released earlier this week suggested that the slowdown in the US housing market may not be as pronounced as earlier feared. Elsewhere, the pound remained broadly weaker following this morning's unexpected downward revision to UK quarterly GDP for the second quarter and a very dovish speech from Monetary Policy Committee member David Blanchflower to contrast with more hawkish comments from Sir John Gieve earlier.