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Dollar continues to fall as data disappoint
The US dollar fell against most major currencies on Tuesday, after the release of disappointing economic data.
The data showed today that the US retail sales index rose only 0.3% during October, lower than forecasts of 0.5%, and the core reading for the same index (excluding automobiles) was at 0.2%, also lower than forecasts of 0.6%.
Additionally, the import price index fell 0.1%, while the industrial production rose 1.1%.
Global markets remain under pressure due to the escalating coronavirus crisis, as the number of Covid-19 infections rose to more than 54 million cases globally.
This led countries to reimpose lockdown restrictions to curb the spread of the virus, pending the announced vaccines to be released.
The dollar index fell against a basket of major currencies by 0.2% to 92.4 points as of 19:00 GMT, after hitting a high of 93.6 points and a low of 92.2 points.
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