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487

US Currency Gained Against Euro on US Consumer Reports

The dollar was also stronger against the yen, trading at 108.18 yen against 107.44

US Currency Gained Against Euro on US Consumer Reports

The dollar gained against euro Tuesday, powered by upbeat reports on US consumer spending and confidence as well as a fall in oil prices.

The single European currency in late-day trade was at $1.5588, down from $1.5741 late Monday.

The dollar was also stronger against the yen, trading at 108.18 yen against 107.44.

The US unit drew strength from a report that sales at US chain stores had risen in the week that ended July 26 compared with the previous seven days.

Support also came from a surprise gain US consumer confidence.

The New York-based Conference Board, a business research group, said its consumer confidence index rose to 51.9 in July from an upwardly revised 51.0 in June.

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