Dollar falls amid better-than-expected economic data

Special Report:Global Financial Crisis

NEW YORK, April 28 (Xinhua) -- The dollar fell against most major currencies on Tuesday as U.S. consumer confidence soared and house price decline slowed.

The Conference Board reported on Tuesday that its consumer confidence index soared from 26.9 in March to 39.2 in April, the highest since November. It was much higher than economists' forecast of 29.0.

The report shows that U.S. consumers are gaining confidence about future economic conditions. But the index remains at low level, compared to a reading over 110 in July 2007.

U.S. house prices continued to fall at a rapid but slightly slower pace in February, according to the Case-Shiller house price index released on Tuesday.

House prices in the 20 largest U.S. metropolitan areas fell by 18.6 percent year-on-year, up from the record loss of 19 percent in January. It was slightly better than analysts' expectation, suggesting that house prices are getting closer to a bottom.

Worries about swine flu threat partly offset the positive economic reports. The World Health Organization (WHO) on Monday raised its pandemic alert level from Phase 3 to Phase 4, warning of a significant increase in the risk of a pandemic.

Investors worried that a possible pandemic may deal another severe blow to the struggling global economy, reverse any progress of recovery.

The euro bought 1.3147 dollars in late New York trading compared with 1.3019 dollars it bought late Monday. The pound fell to 1.4620 dollars from 1.4633 dollars.

The dollar fell to 1.2190 Canadian dollars from 1.2197, and fell to 1.1440 Swiss francs from 1.1568. It fell to 96.45 Japanese yen from 96.74.