Currency movements were largely subdued in the early hours of Asia on Tuesday after a quiet overnight session due to vacations in Britain and the United States.

Le dollar s' est affaibli suite à un léger regain risk appetite, but it remained within a narrow range compared to its peers before the key inflation data of the main economies this week. In Australia, the Australian dollar rose 0.03% to $0.6657, with the country's monthly consumer price index data also expected on Wednesday.

The euro strengthened slightly to $1.0860 despite pessimistic comments from European Central Bank (ECB) policymakers on Monday and data showing that German business morale stagnated in May.

Sterling held near a high of over two months and last bought $1.2774, while the New Zealand dollar rose by nearly 0.1% to a high of $0.6155, its highest level since mid-March.

Elsewhere, the yen languished near the level of 157 to the dollar and held steady at 156.87 to the dollar, although it was on track to make its first monthly gain in 2024, helped by the alleged intervention of Japanese authorities in late April and early May.