U.S. dollar rises against most major currencies

NEW YORK, Dec. 30 (Chinese media) -- The U.S. dollar rose against most major

currencies on Tuesday after thin but volatile trading.

The dollar fell sharply in early trading, hit by the latest economic data.

It rebounded later as GMAC Financial Services, the financing arm of General

Motors (GM), got government financing.

The Conference Board reported on Tuesday that its Consumer Confidence Index

fell to 38 in December from 44.7 in November. It was much lower than a reading

of 45.5 expected by economists.

Home prices in 20 major U.S. cities fell for the 27th consecutive month by

18 percent in October, rating agency Standard Poor's said.

The U.S. Treasury Department announced Monday to purchase 5 billion dollar

stakes of GMAC and lend 1 billion dollars to GM, so the automaker can

participate in reorganizing GMAC as a lately-granted bank holding company.

That means the company has been allowed to petition for money from the

government's 700-billion-dollar financial rescue program.

The euro bought 1.4087 dollars in late New York trading compared with

1.4091 dollars it bought late Monday. The pound fell to 1.4412 dollars from

1.4555 dollars.

The dollar rose to 1.2256 Canadian dollars from 1.2104 Canadian dollars,

and fell to 90.29 Japanese yen from 90.33 yen. It rose to 1.0577 Swiss francs

from 1.0518 Swiss francs.