Dollar stuck near 5-month low, struggles to shake off growth concerns

euro and other major peers on Tuesday as investors grappled with the potential economic impact of growing global trade tensions.

Fears that U.S. President Donald Trump's aggressive tariff policies could trigger a broader economic slowdown has undermined the greenback amid a string of soggy sentiment surveys.

The dollar index, which measures the currency against six key rivals, has dropped around 6% from the more than two-year peak of 110.17 hit in mid-January. It was last at 103.44, struggling to make a decisive move away from a five-month low of 103.21 touched last Tuesday.

The U.S. currency hardly got much support from retail sales data on Monday that showed a modest rebound in February after a revised 1.2% decline in January.

The euro hovered around $1.0919 ahead of an expected vote on Germany's massive stimulus package, not far off its highest level since October 11 at $1.0947 touched last week.

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Germany's constitutional court on Monday threw out new challenges by opposition parties against a plan by the prospective coalition government, paving the way for parliament to convene on Tuesday to consider the matter.
The package includes a 500 billion euro ($544 billion) fund for infrastructure and sweeping changes to borrowing rules to bolster defence and revive growth in Europe's largest economy.

On the policy front, the U.S. Federal Reserve, Bank of Japan, and Bank of England are expected to stand pat on rates at their meetings this week, keeping markets focussed on any forward guidance from