US dollar keeps its steady rate against Euro

The euro remained steady against the U.S. dollar Wednesday as positive news from Washington helped offset an early rise in the 12-nation currency.

The euro bought US$1.2010 in late European trading, unchanged from late New York trading on Tuesday.

The European currency was buoyed early in the day by U.S. data from Tuesday showing consumer confidence plunging in September. But the dollar rebounded following a forecast by Germany's GfK research group that consumer confidence in Europe's biggest economy would drop in October and solid economic news from Washington, according to the AP.

The British pound dropped to US$1.7606 from US$1.7667 the day before and the dollar fell against the Japanese currency, dropping to 113.29 yen from 113.32 yen. AM