US dollar rises on solid data

The US dollar rose against most major currencies on solid economic data.

In late New York trading on Tuesday, the euro climbed to $1.1653 from $1.1633, and the British pound increased to $1.3281 from $1.3197. The Australian dollar decreased to $0.7660 from $0.7678, Xinhua news agency reported.

The US dollar bought 113.68 Japanese yen, higher than 113.17 yen of the previous session.

The US dollar increased to 0.9973 Swiss franc from 0.9953 Swiss franc, and it edged up to 1.2899 Canadian dollars from 1.2838 Canadian dollars.

The consumer confidence index hit 125.9 in October, highest in almost 17 years, according to the Conference Board on Tuesday.

Meanwhile, US Federal Reserve is kicking off a two-day policy meeting Tuesday and is scheduled to announce its latest monetary policy decision on Wednesday.

"The Fed is expected to announce no change in policy tomorrow, but could use the statement to signal a December move, possibly by playing up a strengthening economy," said Chris Low, chief economist at FTN Financial, on Tuesday.

--IANS

pgh/