Dollar rises on increase of consumer confidence

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Associated Press

Posted on November 27, 2012 at 4:00 PM

Updated Tuesday, Nov 27 at 4:02 PM

NEW YORK (AP) — The dollar is rising against the euro after U.S. consumer confidence rose to its highest level in almost five years.

Traders also bought the dollar as sales of machinery and equipment unexpectedly rose last month.

The euro fell to $1.2939 in afternoon trading from $1.2963 late Monday.

The Conference Board says that its consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

The Commerce Department says that orders for core capital goods rose 1.7 percent in October, the best showing since a 2.3 percent rise in May.

The British pound rose to $1.6024 from $1.6018.

The dollar rose to 0.9312 Swiss franc from 0.9287 Swiss franc.

The dollar slipped to 82.14 Japanese yen from 82.18 yen.

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