U.S. Dollar Lower on Confidence Data

The dollar fell against a basket of major currencies on Tuesday after soft U.S. consumer confidence data drove bond yields lower, weakening demand for the U.S. currency.

The Conference Board’s index of consumer attitudes fell to 78.1 in February from a downwardly revised 79.4 in January, where economists in a Reuters poll had expected 80.0.

The yield on the benchmark 10-year U.S. Treasury note fell to a session low of 2.7 percent after the data, indicating higher bids for the safe-haven bond in response to the weak data and pressuring the dollar.

CNBC

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