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Dollar rises as consumer confidence increases

Associated Press Modified: November 27, 2012 at 4:15 pm •  Published: November 27, 2012
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NEW YORK (AP) — The dollar rose against the euro Tuesday after U.S. consumer confidence increased to its highest level in almost five years.

Traders also bought the dollar as sales of machinery and equipment unexpectedly rose last month.

The euro fell to $1.2939 in afternoon trading from $1.2963 late Monday.

The Conference Board said that its consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

The Commerce Department said that orders for core capital goods rose 1.7 percent in October, the best showing since a 2.3 percent rise in May.

The stronger data from the U.S. overshadowed a deal by European leaders to release more financial aid to Greece.

In other trading, the dollar rose to 0.9309 Swiss franc from 0.9287 Swiss franc and to 99.43 Canadian cents from 99.37 Canadian cents.

The dollar slipped to 82.17 Japanese yen from 82.18 yen.

The British pound was unchanged at $1.6018.