Euro Gains On Other Major Currencies

The euro saw some strength against other major currencies on Tuesday in New York as investors pondered a slew of economic reports around the globe.The single currency was little-changed against the U.S. dollar after giving back overnight gains. The euro moved at 1.2721 in the late morning after hitting a two-week high of 1.2990 earlier this week.The U.S. Conference Board said its consumer confidence index fell to a reading of 25.0 in February from a revised reading of 37.4 in January. Economists had been expecting the index to edge down to 35.0 from the 37.7 originally reported for the previous month.The European currency climbed higher against the pound and moved off of a two-week low of 0.8726 reached yesterday. The pair exchanged at 0.8835 in the late morning.Investors pondered over the British Bankers' Association report showing the number of mortgage approvals for house purchase increased to 23,376 in January from 22,416 recorded in the previous month. Net mortgage lending rose by GBP 2.9 billion, smaller than GBP 3.3 billion increased in December. Personal deposits fell GBP 2.3 billion as spending drained cash and savers sought alternative deposit products.