German inflation surprise hits brakes on dollar’s slide

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German inflation surprise hits brakes on dollar’s slide
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The euro nursed losses and has helped the dollar to make a strong start to 2023, after a surprise slowdown in German inflation rallied bunds and sent the common currency sliding. | Reuters

Meanwhile, shares in U.S. car maker Tesla also plunged 12 percent after the company missed delivery expectations, weighing on the mood and broader Wall Street indexes.

The Aussie lost 1 percent on Tuesday and was steady at $0.6733 in morning trade. The kiwi also fell 1 percent and hovered at $0.6248. Sterling fell 0.7 percent overnight and last bought $1.1986. In offshore trade, the yuan was firm at 6.9160 per dollar. The Thai baht has scaled six-month highs on tourism hopes as China drops quarantine for travellers.

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