(RTTNews) - The dollar was slightly weaker Tuesday morning in New York ahead of regional manufacturing data and a slew of corporate earnings news.
The buck held near its recent 8-month peak versus the euro, but continued its slide against its resurgent Canadian counterpart.
The dollar was near 1.3650 against the euro after hitting 1.3595 last week. The euro has been crippled by concerns that Greek's debt crisis may spread to Spain and Portugal.
Meanwhile, the buck continued its run of choppy trading versus the sterling, bouncing back and forth around 1.5700. Tuesday, official figures released by the Office for National Statistics showed that U.K. inflation surged in January.
Annual inflation rose to 3.5% in January from 2.9% in December, matching economists' expectations. The rate was the highest since November 2008.
ING Bank NV's James Knightley expects the central bank to argue that inflation should fall again soon as the economic recovery remains fragile and fiscal policy is set to continue being tightened. The central bank downwardly revised its growth forecast last week.
Versus the yen, the buck remained below the 90 mark.
The dollar slipped below C$1.0500 versus the loonie as the price of oil jumped back above $75 a barrel.
Tuesday, the Centre for European Economic Research said its economic sentiment indicator decreased 2.1 points 45.1 in February. Economists had forecast a reading of 41. In January, the reading was 47.2.
