Forex - Dollar Rises After Equity Selloff

© Reuters.

Investing.com - The U.S. dollar rebounded on Tuesday as Wall Street tumbled amid worry over retail earnings results.

The , which measures the greenback’s strength against a basket of six major currencies, rallied 0.37% to 96.42, as of 11:06 AM ET (16:06 GMT),

The fell more than 400 points after the opening bell, .

Retail earnings from Target (NYSE:) and other companies came in lower than expected, increasing worry over the holiday sales season.

Meanwhile, data on Tuesday showed that the U.S. housing sector . The number of housing starts in the U.S. rose broadly in line with expectations in October, but building permits declined.

The dollar was slightly higher against the safe-heaven Japanese yen, with rising 0.03% to 112.58. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

Elsewhere, the euro fell as European equities sank over continued political pressure between the European Commission and Rome. slipped 0.42% to 1.1405.

The pound was also down amid Brexit worries, with falling 0.30% to 1.2817. The decreased 0.16% to 0.6827, while was down 0.52% to 0.7255.

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