NEW YORK, June 27 (Xinhua) -- The U.S. dollar weakened on Tuesday as hawkish comments from European Central Bank (ECB) President Christine Lagarde strengthened expectations of more interest rate hikes in Europe.

The dollar index, which measures the greenback against six major peers, decreased 0.20 percent to 102.4918 in late trading.

Inflation in the euro area is too high and is set to remain so for too long, said Lagarde at a central bank meeting in Portugal on Tuesday.

Meanwhile, the U.S. consumer confidence index increased in June with consumers' inflation expectation hitting the lowest level since December 2020.

The Conference Board reported Tuesday that its consumer confidence index rose to 109.7 in June from 102.5 in May. That's the highest the reading has been since January 2022 and much higher than economists had forecast. A reading under 80 often signals a recession in the coming year. Consumers' 12-month inflation expectations dipped to 6.0 percent in June, the lowest reading since December 2020, from 6.1 percent in May.

Moreover, the Federal Housing Finance Agency report showed monthly house prices rising 0.7 percent in April after gaining 0.5 percent in March. Prices increased 3.1 percent in the 12 months through April after advancing 3.7 percent in March.

"Strength in housing suggests risks for the Fed's goal of a return to 2 percent inflation over the medium term," said Veronica Clark, an economist at Citigroup in New York. "Housing strength over the summer also supports our base case of further rate hikes sooner rather than later."

In late New York trading, the euro rose to 1.0960 U.S. dollars from 1.0915 dollars in the previous session, and the British pound was up to 1.2751 U.S. dollars from 1.2721 dollars in the previous session.

The U.S. dollar bought 144.0130 Japanese yen, higher than 143.4470 Japanese yen of the previous session. The U.S. dollar decreased to 0.8931 Swiss franc from 0.8949 Swiss franc, and it rose to 1.3182 Canadian dollars from 1.3145 Canadian dollars. The U.S. dollar was down to 10.7178 Swedish Krona from 10.7211 Swedish Krona.