Summary Dollar fell against other major currencies on Tuesday on weak US consumer confidence data.
NEW YORK (AFP) - The dollar lost ground to most other major currencies Tuesday, pressured by Turkey s downing of a Russian jet fighter along the Syrian border and a drop in US consumer confidence.
"Though mostly steady, the dollar lost ground to safer peers from Japan and Switzerland as reports of Turkey shooting down a Russian warplane heightened geopolitical instability," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
The dollar fell to 122.55 yen around 2200 GMT from 122.83 yen at the same time Monday. The greenback slipped to 1.0168 Swiss francs from 122.83.
"A surprise deterioration in US consumer confidence also didn t help the dollar," Manimbo said.
The Conference Board reported US consumers turned markedly more pessimistic about the economy, especially the jobs market, pushing its index to the weakest reading of the year.
In contrast, an upward revision to US economic growth in the third quarter had little effect on the dollar, "given its rearview snapshot of the economy," he added.
The euro, meanwhile, benefited from solid data in Germany, after the Ifo Institute reported business confidence in Europe s largest economy rebounded in November.
"The rise in confidence is particularly impressive considering that it comes after the VW scandal, refugee crisis and Paris attacks," said Kathy Lien of BK Asset Management.
