The dollar index retreated on Tuesday after a host of economic data releases indicated the U.S. economy remains resilient and may not be close to a recession, while the euro strengthened after comments from European Central Bank (ECB) President Christine Lagarde.
The greenback retreated further after data showed new orders for U.S.-manufactured capital goods unexpectedly rose in May, although the prior month was revised down, indicating some caution remained among businesses for new capital investment.
But the dollar pared declines somewhat after a separate reading on consumer confidence from the Conference Board showed its index rose to 109.7 in June, the highest since January 2022, from 102.5 in the prior month.
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