The euro fell to a new 16-month low against the dollar on Tuesday, as Asian currencies gave up gains made through dialogue between the US and Chinese presidents.

The euro extends its losses and hits its lowest level in 16 months. The euro was flat against the dollar at $1.1367. Earlier in the session, the euro fell to $1.1352, its lowest level since July 2020, extending recent losses on Monday after dovish comments from European Central Bank President Christine Lagarde. The British pound held steady against the greenback (+0.03% to $1.3420) and climbed against the euro (+0.25% to 84.53 pence) as the number of jobs increased between September and October in the UK, opening the door to a tightening of monetary policy according to analysts. Meanwhile, two economic indicators, retail sales and industrial production for October, beat market expectations on Monday.