The Dollar fell broadly on Tuesday, posting its steepest loss against the Euro in two weeks, sparking a rebound in commodity prices and helping to preserve investors' appetite for risk.

News that US consumer confidence in March plunged to a five-year low, while expectations for the future dropped to their lowest level in 34 years also added to selling pressure on the Dollar. A separate report showed US home prices for January declined in 16 of the 20 regions measured.

EurUsd climbed to a session peak 1.5658. It was up 1.13% at 1.5611, posting its biggest one-day rise since March 12th. EurUsd is down about 1.9% from last week's record high at 1.5904, but still up almost 7% since the beginning of the year.

Concerns about the health of the US economy and the global financial sector, which were heightened by the downbeat Consumer Confidence and Housing report, pushed the Dollar weaker versus the low yielding Japanese yen and Swiss franc. Low yielding currencies such as the Yen and Swiss franc tend to attract flows during periods of uncertainty as the low interest rates reflect the capital surplus of their respective countries.

UsdJpy slid to an intraday low of 99.63 and erased earlier gains above 101. It was last trading at 100.08 down 0.67%. UsdChf fell 0.98% to 1.0039. GbpUsd was up 0.73% at 2.0023.

The weak Dollar saw Gold and Oil prices rebound from last week's declines, supporting US equities and lifting commodity-based currencies such as Australian and New Zealand dollars.