Fed asset purchases, in place for over a year now, have weakened the dollar by depressing interest rates to spur on economic recovery.
In U.S. trading on Tuesday, EUR/USD was up 0.04% at 1.3767.
The Department of Labor reported earlier that the U.S. consumer price index came in flat in November after falling 0.1% in October. Analysts were calling for a 0.1% uptick.
The annual rate of inflation rose 1.2% in November, just shy of expectations for 1.3% reading but still up from a four-year low of 1.0% in October.
U.S. core inflation, stripped of volatile food and energy items, rose 0.2% in November from October, beating expectations for a 0.1% gain, while the year-on-year rate for November rose 1.7%, which met consensus forecasts.
Meanwhile in Europe, the ZEW index of German economic sentiment rose to 62.0 in December from 54.6 in November. It was the highest level since April 2006. Economists were predicting the index to tick up to 55.0 this month.
Also in Europe, Eurostat, the statistical arm of the European Union, reported that the euro area's monthly November CPI contracted 0.1% but rose 0.9% on year, both figures matching market forecast.
Markets took the data in stride, keeping an eye towards Wednesday, when the Fed will release its statement on interest rates and monetary policy.
Investors were eager for the U.S. central bank to announce plans to either let stand or trim the size of its USD85 billion in monthly bond purchases, a monetary stimulus policy known as quantitative easing that weakens the dollar by driving down interest rates to spur recovery.
Elsewhere, the greenback was up against the pound, with GBP/USD down 0.21% at 1.6266.
The Office for National Statistics reported earlier that the U.K.'s annual rate of consumer price inflation rose by 2.1% in November, down from 2.2% the previous month and also the smallest increase since November of 2009. Economists were expecting an unchanged reading.
Consumer prices rose 0.1% in November from a month earlier, below expectations for a 0.2% increase.
Core CPI rose by 1.8% last month, in line with expectations, accelerating from 1.7% in October.
The retail price index rose 2.6% in November, unchanged from October and below forecasts for a 2.7% increase.
The data also showed that the house prices index climbed 5.5% in the twelve months to October, above expectations for a 4.2% gain. It was the fastest increase since September 2010.
The dollar was down against the yen, with USD/JPY down 0.33% at 102.68, and down against the Swiss franc, with USD/CHF down 0.25% at 0.8850.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.14% at 1.0612, AUD/USD down 0.55% at 0.8898 and NZD/USD trading up 0.01% at 0.8258.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04% at 80.21.
On Wednesday, the dollar will move on the Fed's statement on U.S. monetary policy. Elsewhere, the U.S. is to release data on building permits and housing starts.
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