The dollar fell against major currencies on Tuesday as U.S. pending home sales improved in December. Pending sales of existing homes, a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from November, the National Association of Realtors (NAR) reported Tuesday. The rebound in the latest report suggests existing home sales likely stabilized in January after dropping sharply at the end of 2009, said analysts of Nomura Economic Research. The NAR also published its outlook for 2010. It expects existing home sales to climb to an annualized rate of 6.1 million in the second quarter due to the extension of the first-time homebuyer tax credit. Thereafter sales are forecast to stabilize at around 5.7 million units. The result is a modest positive for the near-term housing outlook, reducing safety-haven demand for the dollar. The European Commission is due to publish recommendations Wednesday on Greece's deficit-cutting plan, which is ambitious but achievable according to a top EU official. Speculations that the EU could support the plan eased some worried over fiscal problems of Greece and some other European countries. The euro bought 1.3964 dollars in late New York trading compared with 1.3923 dollars it bought late Monday. The pound rose to 1.5978 dollars from 1.5961 dollars. The dollar fell to 1.0596 Canadian dollars from 1.0634 Canadian dollars, and fell to 1.0551 Swiss francs from 1.0576 Swiss francs. It slid to 90.38 Japanese yen from 90.63 Japanese yen. 