As traders rushed to fend off bets on the Federal Reserve's first interest rate cut this year, the US dollar hovered near a 4.5-month high against its major peers on Tuesday.

The dollar held close to its six-week high against the euro and the pound sterling reached on Monday. The dollar index, which measures currency against the yen, the euro, the pound sterling and three other currencies, rose slightly by 0.02% to 105.02, after rising 0.51% to 105.07

New Zealand's kiwi dollar lost 0.07% to $0.5949, falling back to its 4.5-month low of $0.59395 overnight at $0.59395.