USD rose against most of its major rivals in the European session on Tuesday, as investors awaited the U.S. retail sales data for October later in the day, hoping to get clues on whether the accelerated inflation has an impact on consumer spending heading into the holiday shopping season.
The U.S. currency dropped against GBP but rose against the rest of its major counterparts. The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, increased 0.13% to 95.53.
The Commerce Department is set to release the key report on the U.S. retail sales for October at 13:30 GMT. Economists expect it will show a 1.2% m/m increase for the reviewed period, following a 0.7% m/m advance in September.
Later in the day, investors also received the U.S. industrial production data and the housing market index.