U.S. dollar declines amid soft data

The U.S. dollar slipped against most major currencies on Tuesday as economic data from the country came out below expectations.

The Conference Board Consumer Confidence Index declined from 103.5 in September to 98.6 in October, missing market consensus of 101, according to The Conference Board on Tuesday.

However, recent hawkish remarks from Federal Reserve officials had bolstered market speculation for an interest-rate hike by year-end.

San Francisco Fed President John Williams said on Friday that "it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later".

New York Federal Reserve President William Dudley said on Wednesday that he expected the Fed to raise rates by the end of this year, adding that his forecast depends on the economy staying on its current trajectory.

In late New York trading, the euro rose to 1.0901 dollars from 1.0876 dollars, and the British pound slipped to 1.2190 dollars from 1.2215 dollars. The Australian dollar increased to 0.7649 dollars from 0.7601 dollars.

The dollar bought 104.23 Japanese yen, lower than 104.27 yen in the previous session. The dollar inched down to 0.9937 Swiss francs from 0.9942 Swiss francs, and it fell to 1.3328 Canadian dollars from 1.3378 Canadian dollars. Enditem