U.S. dollar rises on technical buying

The U.S. dollar rose against most major currencies on Tuesday, boosted by technical buying and political uncertainty in Europe ahead of elections.

Analysts said the dollar is benefiting from mounting political uncertainty ahead of a number of crucial elections in the eurozone and from buying by bargain hunters.

The dollar index, which measures the greenback against six major peers, increased 0.37 percent at 100.280 in late trading Tuesday.

In late New York trading, the euro declined to 1.0694 dollars from 1.0748 dollars in the previous session, and the British pound rose to 1.2515 dollars from 1.2479 U.S. dollars in the previous session. The Australian dollar decreased to 0.7633 U.S. dollar from 0.7659 U.S. dollar.

The U.S. dollar bought 112.10 Japanese yen, higher than 111.73 yen of the previous session. The U.S. dollar rose to 0.9976 Swiss francs from 0.9910 Swiss francs, and it edged up to 1.3169 Canadian dollars from 1.3092 Canadian dollars. Endit