The greenback soared on Tuesday as investors paid attention to a busy week of talks by Federal Reserve leaders and data showing that U.S. retail sales increased more than forecast in September.

The previous month, retail sales advanced by 0.7% as households increased their spending on cars and at restaurants and bars.

For additional hints regarding interest rate policy, investors are paying close attention to remarks this week by Fed officials, notably Fed Chair Jerome Powell on Thursday.

Traders are assessing whether another rate hike by the U.S. central bank is likely as it fights to drive inflation down to its 2% annual objective.

The dollar index that gauges the greenback versus its major pairs added 0.16% at 106.40. It is still below the 107.34 mark, which was the highest since November 2022 and was attained on October 3.

EUR/USD slumped by 0.11% to $1.0548. rose from $1.0448 on Oct. 3, the lowest from 10 months.

GBP/USD dipped 0.56% at $1.2147, post advancing by 0.6% on Monday.

USD/JPY traded 149.77 per dollar, having risen to 148.75 after the release, as experts believed the longer-term expectations countered the immediate reaction to higher inflation forecasts.