Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

  • China’s offshore yuan hits 5-month high
  • Euro at 16-month low vs dollar
  • <a href=”https://tmsnrt.rs/2RBWI5E”>Graphic: World FX rates</a>

LONDON, Nov 16 (Reuters) – The euro fell to a new 16-month low versus the dollar on Tuesday, while Asian currencies gave up their gains from dialogue between the U.S. and Chinese presidents.

The dollar index held near its highest in 16 months, having rallied since U.S. inflation data last week showed consumer prices surged to their highest rate since 1990, fuelling speculation that the Federal Reserve may raise interest rates sooner than expected.

Investors are waiting for U.S. retail sales data due later in the session, which could also influence the outlook for interest rates.

At 1238 GMT, the dollar index was flat on the day at 95.541 .

The euro was flat versus the…

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