According to a report released by the
Excluding a modest drop in auto sales, retail sales inched up by 0.1% in July compared to a 0.4% increase in the previous month.
The weak data also raised speculation that the Federal Reserve may keep its low interest rates for a considerable period, suggesting tepid recovery.
The greenback hit a 5-day low of 0.9045 against the franc, compared to a high of 0.9098 hit at
The greenback reversed from an early high of 1.3341 against the euro, falling to a 2-day low of 1.3410. At Tuesday's
Eurozone industrial production declined for the second straight month in June, figures from Eurostat showed.
On a monthly basis, industrial production dropped 0.3% in June, much slower than May's 1.1% decline. Economist had forecast a 0.4% growth for the month.
Having advanced to a 1-week high of 102.50 against the yen in early deals, the greenback eased back with pair trading around yesterday's closing value of 102.25. Further weakness may see the greenback challenging support at the 101.5 mark.
That beat forecasts for a decline of 7.1% following the downwardly revised 6.1% gain in the first quarter
The greenback slipped to 1.0906 against the loonie, its weakest since
The greenback declined to a 1-week low of 0.9319 against the aussie and a 5-day low of 0.8478 against the kiwi, coming off from its early highs of 0.9263 and 0.8418, respectively. The greenback is poised to challenge support around 0.94 against the aussie and 0.855 against the kiwi.
On the flip side, the greenback held steady against the pound, following more than a 2-month high of 1.6698 set in previous deals. This may be compared to an early 6-day low of 1.6842. The pair ended Tuesday's trading at 1.6810.
The Bank of
"In light of the heightened uncertainty about the current degree of slack, the committee noted the importance of monitoring the expected path of costs, particularly wages, the BoE said in its quarterly Inflation Report.
The US business inventories for June are due shortly.
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