Dollar erases losses to trade flat against major rivals

The U.S. dollar traded flat against the euro, yen and pound Wednesday after dismal December retail-sales data caused investors to second-guess the strength of the U.S. economy, kicking off a session of choppy trade.

The euro EURUSD, -0.20%  turned positive against the dollar after the Commerce Department said retail sales dropped by a seasonally adjusted 0.9% last month to mark the biggest decline in nearly a year.

The ICE U.S. Dollar Index DXY, +0.19%  , a measure of the dollar’s strength against a trade-weighted basket of six rival currencies, was down 0.22% to 92.1030.

The dollar staged a similar recovery against the yen. It recovered to ¥117.3320, after the buck fell USDJPY, +0.38% to ¥116.1150, its lowest level since mid-November.

The pound GBPUSD, -0.05%  traded at $1.5232, off its session high of $1.5270. It traded at $1.52 Tuesday afternoon.