The dollar recovered Tuesday as weak US economic data tempered better-than-expected earnings results from big American companies. The dollar had fallen earlier to a 14-month low in overseas trading against other major currencies. By late trading in New York, the dollar rose to 75.56 against a basket of six currencies that include the euro, yen and pound. Overnight, the dollar had dropped to a 14-month low of 75.105. The euro fell to $1.4928 from $1.4944 late Monday. Overseas, the euro had peaked at $1.4994, its highest level since August 2008. The British pound slipped to $1.6359 from $1.6370 in late New York trading, while the dollar rose to 90.74 Japanese yen from 90.65 yen. The dollar also rose to 1.0505 Canadian dollars from 1.0288 after the Bank of Canada held the country's key interest rate at 0.25 percent and said it would leave it there until the middle of next year. The Australian dollar also hit a 14-month high against the US currency overnight.
