Investing.com - The dollar remained lower against the yen and the euro on Tuesday after data showed that U.S. consumer confidence unexpectedly fell to seven month low in November.
During U.S. morning trade, USD/JPY was down 0.26% to 101.41, holding below the six-month high of 101.91 struck on Monday.
The Conference Board said its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October. Analysts had expected the index to rise to 72.9 this month.
Earlier Tuesday, data showed that the number of building permits issued in the U.S. rose to the highest level since January 2008 in October.
The Commerce Department said that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million from September’s total of 0.970 million. Analysts expected building permits to decline to 0.940 million units in October.
The yen found support after Tuesday’s minutes of the Bank of Japan’s October meeting showed some policymakers see a greater downside risk to the economy.
Elsewhere, EUR/USD was up 0.22% to 1.3546 from 1.3515 on Monday.
The euro shrugged off dovish remarks by European Central Bank board member Benoit Coeure, who said Tuesday that negative deposit rates are still a possibility.
The pound was also higher against the dollar, with GBP/USD rising 0.17% to 1.6182.
Earlier Tuesday, Bank of England Governor Mark Carney reiterated the bank’s 7% unemployment target is a threshold and not a trigger for rising interest rates. The comments came during testimony on the BoE’s quarterly inflation report before parliament’s Treasury committee.
The dollar was down against the Swiss franc, with USD/CHF losing 0.33% to trade at 0.9086.
The greenback was broadly higher against the Australian, New Zealand and Canadian dollars, with AUD/USD down 0.52% to 0.9113, NZD/USD down 0.26% to 0.8186 and USD/CAD inching up 0.04% to 1.0546.
Reserve Bank of Australia Deputy Governor Philip Lowe said Tuesday that intervention to weaken the strong Australian dollar is an option, but added that the threshold for intervention is high.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 80.79.
During U.S. morning trade, USD/JPY was down 0.26% to 101.41, holding below the six-month high of 101.91 struck on Monday.
The Conference Board said its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October. Analysts had expected the index to rise to 72.9 this month.
Earlier Tuesday, data showed that the number of building permits issued in the U.S. rose to the highest level since January 2008 in October.
The Commerce Department said that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million from September’s total of 0.970 million. Analysts expected building permits to decline to 0.940 million units in October.
The yen found support after Tuesday’s minutes of the Bank of Japan’s October meeting showed some policymakers see a greater downside risk to the economy.
Elsewhere, EUR/USD was up 0.22% to 1.3546 from 1.3515 on Monday.
The euro shrugged off dovish remarks by European Central Bank board member Benoit Coeure, who said Tuesday that negative deposit rates are still a possibility.
The pound was also higher against the dollar, with GBP/USD rising 0.17% to 1.6182.
Earlier Tuesday, Bank of England Governor Mark Carney reiterated the bank’s 7% unemployment target is a threshold and not a trigger for rising interest rates. The comments came during testimony on the BoE’s quarterly inflation report before parliament’s Treasury committee.
The dollar was down against the Swiss franc, with USD/CHF losing 0.33% to trade at 0.9086.
The greenback was broadly higher against the Australian, New Zealand and Canadian dollars, with AUD/USD down 0.52% to 0.9113, NZD/USD down 0.26% to 0.8186 and USD/CAD inching up 0.04% to 1.0546.
Reserve Bank of Australia Deputy Governor Philip Lowe said Tuesday that intervention to weaken the strong Australian dollar is an option, but added that the threshold for intervention is high.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 80.79.