Dollar gains on yen
U.S. consumer confidence rose by more than expected in August, encouraging risk-taking in the market.
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NEW YORK (Reuters) -- The dollar erased losses against the yen on Tuesday after a report showed U.S. consumer confidence rose by more than expected in August, further boosting risk-taking in the market.
The euro also rose following the report.
The Conference Board's U.S. consumer confidence index rose in August to 54.1 from an upwardly revised 47.4 in July, the private business research group reported. Economists polled by Reuters had forecast a reading of 47.5 for the August index.
The euro jumped to $1.4360 after the data from $1.4349 just before. Against the yen, the dollar rose to session highs at 94.63, according to Reuters data.
The euro is considered a high-risk currency and it tends to benefit against the safe-haven dollar when risk appetite improves. 
