US Currency Gained Against Euro on US Consumer Reports

The dollar gained against euro Tuesday, powered by upbeat reports on US consumer spending and confidence as well as a fall in oil prices.

The single European currency in late-day trade was at $1.5588, down from $1.5741 late Monday.

The dollar was also stronger against the yen, trading at 108.18 yen against 107.44.

The US unit drew strength from a report that sales at US chain stores had risen in the week that ended July 26 compared with the previous seven days.

Support also came from a surprise gain US consumer confidence.

The New York-based Conference Board, a business research group, said its consumer confidence index rose to 51.9 in July from an upwardly revised 51.0 in June.