Euro falls versus dollar in London

The euro retreated from a one-week high against the dollar on Tuesday, losing ground after a survey showed German investor sentiment unexpectedly worsened in March.
The Mannheim-based ZEW institute said its German economic expectations indicator, based on a survey of 311 analysts and institutional investors, fell to 63.4 from February's 69.8 and below a forecast for a rise to 71.0.
"People were expecting a strong number and euro/dollar moved higher beforehand. The move back down was a correction rather than the market showing big concern about the German economy," said Niels Christensen, senior currency strategist at Societe Generale in Paris.
By 1240 GMT, the euro was down 0.1 percent against the dollar at $1.1948, touching a session low of $1.1938 after the weak ZEW survey. Earlier, it had climbed as high as $1.1989, a one-week high.
The euro had drawn support this week on expectations of European Central Bank tightening and after the United Arab Emirates' central bank said it was considering putting more of its estimated $23 billion reserves into euros.
The focus now turns to a barrage of US economic data due later in the session. US February retail sales data are out at 1330 GMT and are expected to show a 0.8 percent fall after a 2.3 percent rise the previous month. The US current account, due at the same time, is forecast to widen in the fourth quarter to $217.75 billion.
"The dollar may be hit by both structural and cyclical fundamentals," said Lena Komileva, G7 market economist at Tullett Prebon.
The dollar was down 0.4 percent at 118.37 yen. The euro lost 0.5 percent against the yen at 141.42.
The dollar came under some selling pressure after San Francisco Fed President Janet Yellen said late on Monday that policymakers needed to weigh the risk of raising rates too far.
The New Zealand dollar was the biggest mover on Tuesday, sliding as much as 1.1 percent against the US dollar after a surprisingly weak retail sales report added to worries that the kiwi's rate premium was set to erode. The kiwi was trading at US $0.6352, after hitting a 20-month low of $0.6323 and bringing its losses this year to more than 6 percent.