US dollar gains pause, Aussie $ recovers lost ground

London

THE tide of risk aversion which saw the US dollar hit new six-week highs early on Tuesday ebbed as the session wore on. As European equity markets rose, the US dollar's gains paused and riskier currencies recovered some losses.

Stocks sold off on Monday and the currency market saw "risk-off" moves, with the US dollar index climbing to its highest in six weeks.