The U.S. dollar rose on Wednesday as news that China would act to restrict redundant investments underscored concerns about a global recovery and tempered the positive impact of data showing a jump in new U.S. home sales.

Reports that China intends to curb excessive investment in a range of industries “hurts the strong global growth outlook and is one of the things moving the dollar today,” said Chuck Butler, president of Everbank World Markets in St. Louis.

Investors tend to buy the dollar and yen as safe havens or unwind trades in higher-yielding assets financed with the U.S. and Japanese currencies when recovery optimism fades.

Two reports offered some encouragement about the health of the U.S. economy. A rise of 9.6 percent in new homes sales in July was the fastest pace in nearly a year.

U.S. durable goods orders also rose in July, but a key measure of business demand

In “What Options are Saying about Lehman” Rebecca Darst said “the question…on everyone’s lips” is whether there is a

“The question, I think, on everyone’s lips is whether we’re seeing a Bear Stearns-like setup in Lehman Brothers,” said Rebecca Darst of Interactive Brokers on CNBC’s “Squawk Box.”

I’m still avoiding Lehman Brothers (LEH).