NEW YORK, Jan 20: The US dollar held steady against the euro and the Japanese yen on Friday with traders saying the American currency gained some support from an upbeat survey on consumer confidence.

The euro was changing hands at $1.2965 at 2200 GMT, little moved from $1.2962 late Thursday.

The US currency was meanwhile swapping hands at 121.21 yen late Friday, barely changed from 121.20 a day earlier.

Traders said the dollar was propped up by the University of Michigan's consumer confidence index, released Friday, which rose to a reading of 98 in January compared with 91.7 in December.

The rise in the index was stronger-than-expected as most analysts had only predicted it would tick up to 92.4.

Analysts said the index reading helped support the dollar as consumer spending accounts for some two-thirds of US economic activity. The reading revived hopes the world's biggest economy could be shaking off last year's downturn.

The British pound meanwhile remained firm and was expected to remain well-bid ahead of Wednesday's publication of the minutes from the Bank of England's January rate meeting, when it stunned markets with a rate hike.

In late New York trade, the dollar stood at 1.2477 Swiss francs from 1.2466 Thursday.

The pound was being traded at $1.9741 from 1.9740.--AFP