Dollar slips on poor indicators
The dollar fell against other major currencies during foreign exchange trading on Tuesday, after reports showed that wholesale inflation and sales slipped in October.
The euro was worth $1.2823 in afternoon trading in New York, up from $1.2810 in Monday trading, while the dollar slipped from 117.54 yen to
The dollar gained against the pound however, which slipped from $1.8971 to $1.9013.
The falls followed a report by the US Labour Department that wholesale prices fell 1.6 per cent in October, the fastest fall in five years, after slipping 1.3 per cent in September.
This was followed by Commerce Department data showing that retail sales fell 0.2 per cent in October, having fallen 0.8 per cent in September.
Analysts said that the dollar could be rocked again both today, when Federal Reserve meeting notes are published, on Thursday when consumer price index figures are released and on Friday, when housing starts data is published.