Session Recap: USD retreats across the board

FXstreet.com (Córdoba) - The dollar trades lower versus most competitors Tuesday while the pound is outperforming underpinned by a solid UK construction PMI reading.

The EUR/USD managed to advance but stalled at the 1.3575 zone, while the USD/JPY pulled back after hitting a fresh 6-month high of 103.37 amid profit taking. The GBP/USD was boosted to a high of 1.6436, a few pips shy of its last week's peak after the UK construction PMI reached a 6-year high.

The AUD/USD managed to erase early losses after dipping to the 0.9055 area in the wake of the RBA decision to leave policy unchanged. The AUD/USD was last up 0.2% at the 0.9125 zone while the USD/CAD was little changed at 1.0638, having printed a high of 3-year high of 1.0663.

During the New York session, watch for ISM New York index, Redbook, IBD/TIPP Economic Optimism index and total vehicle sales.

Main Headlines in Europe:

UK: PMI Construction grows to 62.6 in November

EMU: Annual PPI drops 1.4% in October

Flash: What’s the sentiment surrounding the EUR/USD today? – Commerzbank and OCBC Bank

EU's Rehn: Recovery still fragile in some parts of Europe