The euro struck a one-year low of $1.0596 on Tuesday, weakened by the prospect of new US import tariffs imposed by incoming president Donald Trump.

The euro rises slightly against the dollar after U.S. inflation data met analysts’ expectations. Inflation rose to 2.6% year-on-year in October from 2.4% in September, as expected by analysts in a WSJ survey.

The euro dropped to its lowest level in nearly seven months against the U.S. dollar on Monday, weighed down by investor worries about possible tariffs by a new White House administration which could hurt the euro area's economy.