The US dollar declined against the euro and the Swiss franc during Tuesday's early Asian deals. But the dollar recovered early its losses against the pound and moved higher against the yen.
The US dollar recovered Tuesday's early Asian session losses against its UK counterpart. The dollar strengthened to 1.3769 from 1.3854 by about 12:50 am ET. The pair closed Monday's deals at 1.3779.
The British Retail Consortium reported today that the Retail sales in Great Britain tailed off in February after a strong showing in January. Same-store sales in February declined 1.8 percent compared to one year earlier. Overall retail sales including new stores were up 0.1 percent.
The full year to February same store figure was below the increase of 1.1 percent reported for the year to January.
An index measuring sentiment in the United Kingdom's housing market posted a score of -78.3 in February, the Royal Institution of Chartered Surveyors said. That was worse than analyst expectations for a score of 74.5 following a reading of 76.6 in January.
Buyer enquiries rose at the fastest pace since August 2006, the data showed, most notably in London, Wales and the South West of England.
Against the currency of Switzerland, the US dollar traded lower during Tuesday's early trading. The pair that closed yesterday's deals at 1.1585 is now worth 1.1549.
After a brief spike up during Tuesday's early Asian trading, the dollar moved sideways against the Japanese unit. Currently a dollar buys 98.93 yen, which may be compared to Monday's closing value of 98.85.
The greenback edged down against the euro during today's early trading. At about 11:55 pm ET, the greenback touched 1.2681 against the European currency, compared to Monday's closing value of 1.2612. On the downside, the US currency may likely target the 1.275 level against the euro.
Traders will have a busy European session today with the releases of German trade balance, CPI and current account, UK industrial and manufacturing production reports, French industrial production and trade balance, Italian and Euro-Zone PPI reports.
From US, the Federal Reserve Chairman Ben Bernanke will deliver a speech in Washington at 8:30 am Eastern Time on 'Bank Regulation.'
Additionally, the U.S. Census Bureau will release its wholesale inventories report for January at 10:00 am Eastern Time. Investors are expecting the wholesale inventories to drop 1.0 percent in January compared to a 1.4 percent decline in the previous month.
