U.S. dollar gains as risk appetite wanes

US dollars and Euro bills are pictured on September 6, 2022 in Brest, western France.

Fred Tanneau | Afp | Getty Images

The dollar rose on Tuesday as market sentiment turned risk-averse amid worries about earnings and the outlook for the global economy, which knocked the euro off a nearly 10-month high.

The U.S. dollar index climbed 0.48% to 101.84, having dropped more than 4% since March 8.

A weak consumer confidence report and a decline in Federal Reserve manufacturing data further added to the dollar’s safe-haven appeal.

Data showed U.S. consumer confidence fell to a nine-month low in April, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 101.3 — the lowest since July 2022 – from a revised 104.0 in March.

The U.S. Richmond Fed manufacturing index slid as well, down at -10 in April., the fourth straight month of contraction.

Both surveys negated strong U.S….

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