Dollar Near 16-Month High Versus Euro Ahead of U.S. Retail Sales Data

The dollar held just below a 16-month high versus the euro on Tuesday, while the yuan reached its strongest in more than five months as markets welcomed dialogue between Biden and Chinese leader. Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict, in talks which gave Asian currencies a lift overnight. But support for riskier currencies ebbed somewhat as the talks did not appear to lead to any particular breakthrough. The dollar hit a five-month low against China’s offshore yuan overnight, at 6.3615, and the pair was still down around 0.1 percent on…