The U.S. dollar was higher against its major counterparts in the New York session on Tuesday, after a data showed that consumer inflation increased in line with economist estimates in February, denting prospects of imminent rate cuts from the Federal Reserve.

Data from the Labor Department showed that the consumer price index climbed by 0.4 percent in February after rising by 0.3 percent in January. The advance matched expectations.

Excluding food and energy prices, core consumer prices also rose by 0.4 percent in February, matching the increase seen in January. Economists had expected core prices to rise by 0.3 percent.

The report also said the annual rate of consumer price growth ticked up to 3.2 percent in February from 3.1 percent in January. The year-over-year growth was expected to be unchanged.

Meanwhile, the annual rate of core consumer price growth slowed to 3.8 percent in February from 3.9 percent in January. Economists had expected the pace of growth to decelerate to 3.7 percent.

The probability of a rate cut in June has dropped to 58.9 percent from 71.4 percent prior to the data.

The greenback firmed to 5-day highs of 1.0902 against the euro and 1.2744 against the pound, from yesterday's closing values of 1.0925 and 1.2813, respectively. The greenback is likely to find resistance around 1.07 against the euro and 1.25 against the pound.

The greenback appreciated to 0.8794 against the franc, reversing from a 4-day low of 0.8746 seen at 8:40 am ET. The pair had closed Monday's deals at 0.8774. If the greenback rises further, it is likely to test resistance around the 0.90 region.

The greenback remained higher against the yen, at a 5-day high of 148.16. At yesterday's trading close, the pair was quoted at 146.93. The currency is likely to locate resistance around the 151.00 level.

The greenback moved up to a 5-day high of 0.6584 against the aussie, from a 4-day low of 0.6638 hit at 8:30 am ET. The pair had finished yesterday's trading session at 0.6613. Next near term resistance for the greenback is likely seen around the 0.64 level.

The greenback advanced to a 5-day high of 0.6135 against the kiwi, from a 4-day low of 0.6184 seen at 8:30 am ET. The pair was worth 0.6170 at yesterday's close. Should the greenback continues its uptrend, 0.60 is possibly seen as its next resistance level.

The greenback climbed to a 5-day high of 1.3525 against loonie, up from a 4-day low of 1.3466 hit at 6:30 am ET. At Monday's close, the pair was valued at 1.3482. Immediate resistance for the currency is seen around the 1.37 level.

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