RTRS: Dollar pares gains versus euro after confidence data
The dollar pared gains versus the euro and cut losses against the yen on Tuesday after a measure of confidence rose in May.
The euro was down 0.4 percent at $1.3951 , from $1.3932 before the release. The dollar was little changed at 94.84 yen , after trading lower at 94.70 yen prior to the data.
"The sharper-than-expected increase in U.S. consumer confidence plays into the idea that the situation is stabilizing," said Brian Dolan, chief currency strategist at Forex.com, in Bedminster, in New Jersey.
The Conference Board's U.S. consumer confidence index rose in May to 54.9 from a upwardly revised 40.8 in April, the private business research group reported on Tuesday.
