FX round-up: Dollar gathers strength
The dollar gained against major currencies on Tuesday after stronger than expected US retail sales figures for April.
The data lifted optimism about the underlying health of the US economy.
The Commerce Department said April retail sales fell 0.2%, as expected. Excluding cars, April retail sales rose ahead of expectations. The report also underlined expectations that the Federal Reserve is done cutting interest rates.
Otherwise Ben Bernanke remained cautious about the economic environment saying the financial markets have improved thanks to the Fed's recent liquidity measures but added that the environment is still "far from normal."
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Elsewhere, a 1.8% rise in import prices in April was largely in line with forecasts, while the National Association of Realtors said single-family home prices fell 7.7% in the first quarter.
The euro came under pressure after France's Credit Agricole's rights issue and as it reported write-downs related to the US subprime mortgage sector.
Sterling fell on Tuesday after a report showed a surge in consumer prices, stoking more concern about UK inflation.
