U.S. dollar declines on downbeat housing data

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

U.S. privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,205,000, the Commerce Department said Tuesday. The latest reading was 6.8 percent below the revised February estimate and missed market consensus of 1,262,000.

Meanwhile, the rising geopolitical tensions in Korean Peninsula spurred market demand for safe-haven currency like the Japanese yen. The greenback declined further against the yen on Tuesday.

The dollar index, which measures the greenback against six major peers, was down 0.73 percent at 99.560 in late trading.

In late New York trading, the euro rose to 1.0729 dollars from 1.0650 dollars, and the British pound added to 1.2841 dollars from 1.2575 U.S. dollars in the previous session. The Australian dollar declined to 0.7558 U.S. dollar from 0.7594 U.S. dollar.

The U.S. dollar bought 108.550 Japanese yen, lower than 108.69 yen of the previous session. The U.S. dollar fell to 0.9962 Swiss franc from 1.0036 Swiss francs, and it edged up to 1.3380 Canadian dollars from 1.3300 Canadian dollars. Endit