Dollar index pares loss after consumer confidence data

NEW YORK: The dollar index pared its decline on Tuesday as a private gauge on U.S. consumer confidence hit its highest level in seven years, reducing worries over disappointing data on domestic home prices and durable goods orders.

The Conference Board said its index on U.S. consumer confidence rose to 94.5 in October from an upwardly revised 89.0 in September. Economists forecast an October reading of 87.0.

The surprisingly upbeat figure was the strongest since October 2007.

The dollar index, which measures the greenback against a basket of six currencies, was last down 0.09 percent at 85.43. It was at 85.36 shortly before the release of the latest consumer confidence data.