* Euro at 16-month low vs dollar
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds analyst comments, updates prices)
By John McCrank
NEW YORK, Nov 16 (Reuters) – The dollar rose to a 16-month high on Tuesday after data showed U.S. consumers looked past rising prices and drove retail sales higher than expected last month, while the euro slumped amid growth concerns and a surge in COVID-19 cases in Europe.
U.S. retail sales rose 1.7% in October, topping consensus expectations of a 1.4% rise, likely as Americans started their holiday shopping early to avoid empty shelves amid shortages of some goods as the ongoing pandemic squeezes supply chains.
At 3:15 p.m. EST, the dollar index was up 0.385% at 95.898, having earlier touched 95.928, its highest since July 2020.
The dollar has rallied since U.S. inflation data last week showed consumer prices surged to their highest rate since 1990, fueling speculation that the Federal Reserve may raise interest rates…