2014.11.2522:35:57UTC+00British pound tumbles on weak consumer confidence data

The British pound snipped losses versus the US dollar Tuesday following figures showed US consumer confidence dropped to its lowest since June, devitalizing the greenback.

According to the Conference Board, the index of consumer attitudes slipped to 88.7 as optimism over business conditions and jobs dwindled.

Amid earlier figures showing US economic growth was firmer than initially thought in the third quarter, the consumer sentiment data affected the greenback.

Sterling recouped from earlier losses, trading at $1.5715 to the greenback.

"Sterling tends to have a lower correlation to the dollar than the euro, so when the dollar rallies, the euro tends to be the one that benefits," said Alvin Tan, FX Strategist at Societe Generale.