The U.S. dollar rose against most of its major counterparts on Tuesday as concerns over Spain and a global economic slowdown put a lid on risk appetite.
News has been light on Tuesday. As enthusiasm about the U.S. Federal Reserve’s bond buying program faded, investors began to shift their focus back to the debt situation in Spain.
The Spanish Treasury sold six billion dollars of short-term debt at lower borrowing costs on Tuesday, but concerns remain among investors on when the debt-ridden country will finally seek bailout.
The dollar also got some support as builder confidence in the market for newly built, single-family homes rose for a fifth consecutive month in September and reached its highest level since June of 2006, according to a report released by the National Association of Home Builders released on Tuesday.
In late New York trading, the euro fell to 1.3036 from Friday’s 1.3107, while the British pound dipped to 1.6239 dollars from 1.6241.
The dollar rose to 0.9295 Swiss francs from 0.9282 while edging down to 0.9752 Canadian dollars from 0.9755.