The dollar slumped against major rivals Tuesday, as investors dumped the greenback after reports President Donald Trump shared classified information with top Russian officials at a meeting last week.

The ICE Dollar Index DXY, -0.08% fell 0.8% to 98.109, trading around its lowest level since Nov. 9, just a day after Trump won the U.S. presidential election.

Against that backdrop, weaker than expected housing data outweighed a report showing strength in manufacturing.

The pace of home construction eased in April as builders took a breather after a strong start to the year. Meanwhile, industrial production in April grew at the fastest monthly rate in more than three years, on the back of broad-based gains in the manufacturing sector.

Analysts said recent shakiness in the dollar was partially in response to disappointing economic data and escalating political risk.

“Capital that has fled Europe last fall is finally go back there, supporting the euro. Political risk in Europe subsided while it is escalating in the U.S.,” said Colin Cieszynski, senior market analyst at CMC Markets.

The greenback is “coming under increasing corrective pressure amidst data disappointment and more concern over Trump,” said Richard Perry, market analyst at Hantec Markets, in a note.

The renewed uncertainty over the president came after U.S. officials said Trump shared sensitive intelligence about ISIS with Russian Foreign Minister Sergei Lavrov and Russian Ambassador Sergei Kislyak at a meeting in the Oval Office last week. The meeting took place the day after Trump fired Federal Bureau of Investigation Director James Comey, who had been leading an investigation into possible ties between the president and Russia.

On Tuesday President Trump defended his actions in a series of tweets, saying “he had the absolute right” to share facts pertaining to terrorism. National-security adviser H.R. McMaster said Trump’s conversations with the Russian officials were “wholly appropriate.”

National security adviser Denies Trump Gave Russians Secrets

The buck had rallied after the U.S. election, with the ICE dollar gauge trading at a 14-year high by late December, on hopes the new administration would boost the country’s economy and lead to higher interest rates. However, recent lackluster economic reports and increasing doubts that Trump will be able to push through his pro-growth agenda has yanked the dollar lower in recent months.

Against the yen USDJPY, -0.38% , the dollar fell to ¥113.01, from ¥113.79 on Monday.

Cieszynski said a noticeable drop against the Japanese currency and gold, viewed as a haven asset, suggested that investors were also growing risk averse.

The euro EURUSD, -0.08% jumped 1.1% to $1.1096 on Tuesday, up from $1.0975 late Monday in New York, to reach its highest level since early November. That was the biggest daily advance in three weeks. Tuesday’s rally was partly due to dollar weakness and optimism over the relationship between new French President Emmanuel Macron and German Chancellor Angela Merkel.

After a meeting on Monday, the two leaders signaled a move to strengthen the eurozone and possibly change some of the existing EU treaties.

Analysts at Brother Brothers Harriman in a note to clients wrote that as of a week ago, speculators in the futures market are net long, or bullish, on euros for the first time in three years.

“The intraday technicals warn that the euro buying may have exhausted itself for the time being,” the notes said.