U.S. dollar rises on upbeat data

The U.S. dollar climbed against most major currencies on Tuesday as economic data from the country came out positive.

U.S. Commerce Department reported Tuesday that privately-owned housing starts in June were at a seasonally adjusted annual rate of 1.189 million units, 4.8 percent above the revised May estimate. The latest reading also beat market consensus of 1.170 million.

Recent upbeat data has bolstered market speculation that the U.S. economy is gaining momentum in the second quarter.

The dollar index, which tracks the greenback against six major peers, was up 0.55 percent at 97.093 in late trading on Tuesday, the highest level in four months.

In late New York trading, the euro fell to 1.1012 dollars from 1.1075 dollars of the previous session, and the British pound declined to 1.3092 dollars from 1.3266 dollars. The Australian dollar went down to 0.7505 dollars from 0.7596 dollars.

The dollar bought 106.04 Japanese yen, lower than 106.05 yen of the previous session. The dollar gained to 0.9858 Swiss francs from 0.9820 Swiss francs, and it inched up to 1.3034 Canadian dollars from 1.2945 Canadian dollars. Enditem