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US dollar declines amid economic data

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New York, Aug 28 (IANS) The US dollar declined as investors digested a batch of weak economic data.

In late New York trading on Tuesday, the euro was down to $1.1092 from $1.1097 in the previous session, and the British pound increased to $1.2295 from $1.2218 in the previous session, Xinhua news agency reported.

The dollar index, which measures the greenback against six major peers, fell 0.08 per cent at 98.0010 in late trading.

The US dollar bought 105.78 Japanese yen, lower than 106.19 Japanese yen of the previous session.

The US dollar rose to 0.9809 Swiss franc from 0.9796 Swiss franc, and it was up to 1.3287 Canadian dollars from 1.3262 Canadian dollars.

The Australian dollar fell to $0.6756 from $0.6774.

The Conference Board Consumer Confidence Index fell to 135.1, down from 135.8 in July, the US business research group said on Tuesday.

Lynn Franco, Senior Director of Economic Indicators at The Conference Board, said in a statement that while consumers have remained confident and willing to spend, consumers’ optimism regarding the short-term economic outlook could be dampened if the recent escalation in trade and tariff tensions persists.

 

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