NEW YORK, Jan 27 - The dollar fell to a new three-year low on Tuesday after a rise in January U.S. consumer confidence failed to inspire dollar buying, traders said. The dollar fell to 105.63 yen , its lowest point since September 2000, down 0.60 percent from Monday's New York close according to data. The Conference Board, a private research firm, reported January U.S. consumer confidence rose to 96.8 from a revised 91.7 in December. Wall Street analysts had forecast a rise to 96.3.
"The consumer confidence number was good but we were expecting the number to be much higher. The whisper number was round 103 and we didn't get that," said Grant Wilson, vice president for foreign exchange at Mellon Bank. Investors continue to test whether Tokyo will intervene with yen sales to keep offer protection for its exporters who's sales are hampered by a stronger currency. Seasonal factors, primarily the repatriation of yen for corporate accounting purposes ahead of the fiscal year-end on March 31, are exerting growing influence on the dollar/yen market, traders and analysts said in recent interviews.||