U.S. dollar ticks down as market risk appetite rises

NEW YORK, April 18 (Xinhua) -- The U.S. dollar fell in late trading on Tuesday after the release of China's strong economic data and return of risk appetite back to the market.

The dollar index, which measures the greenback against six major peers, fell 0.36 percent at 101.7404 in late trading.

In late New York trading, the euro was up to 1.0973 dollars from 1.0926 dollars in the previous session, and the British pound rose to 1.2429 dollars from 1.2373 U.S. dollars in the previous session.

The U.S. dollar bought 134.0580 Japanese yen, lower than 134.39 Japanese yen of the previous session. The U.S. dollar decreased to 0.8970 Swiss francs from 0.8988 Swiss francs, and it fell to 1.3392 Canadian dollars from 1.3397 Canadian dollars. The U.S. dollar was down to 10.3073 Swedish Krona from 10.3568 Swedish Krona.

The National Bureau of Statistics of China reported Tuesday that China's first-quarter gross domestic product expanded 4.5 percent year on year, up from a 2.9 percent growth in the prior quarter. Economists have expected a 3.9 percent growth.

"The view on the dollar getting a bit weaker from here against the majors is predicated on a strong China," Thierry Wizman, Macquarie global FX &rates strategist in New York, said on Tuesday.

Raphael Bostic, the president of Federal Reserve Bank of Atlanta, said on Tuesday that "one more move should be enough" for the Fed on interest rates.

Bostic said the 0.25 percentage point increase will likely come at the rate-setting meeting in May, and if the later economic data come in as expected, they will be able to "hold there for quite some time."

The U.S. Department of Commerce reported Tuesday that housing starts totaled 1.42 million annualized rate in March. Economists have expected a reading of 1.4 million annualized rate. The prior reading was revised from 1.45 million to 1.432 million annualized rate.

Canadian consumer price index (CPI) increased 0.5 percent in March month on month, up from a 0.4 percent increase in February, according to data issued on Tuesday. The core CPI increased 0.6 percent in March month on month.