Euro gains vs dollar after Case/Shiller report

NEW YORK, Oct 27 (Reuters) - The euro extended gains against the dollar on Tuesday, after data showed U.S. home prices for August increased for a fourth straight month.

See story [ID:nNYS007473].

The euro rose to $1.4886 EUR= from $1.4876 before the data. It was last at $1.4884, up 0.1 percent on the day.

The euro has become a proxy for risk appetite, rising when economic data is positive. (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)