Session Recap: USD softer as risk aversion eases

FXstreet.com (Córdoba) - The USD is steady to softer against the major currencies as stocks recovered on Tuesday, helped by reassuring words from the People's Bank of China on liquidity.

Global stock and commodity markets rose after Ling Tao, official of the People's Bank of China, said that the central bank will keep a close eye on volatile money market rates and guide them to a "reasonable range".

However, the FX market has remained pretty steady. EUR/USD failed to break above the 1.3150 level fell back to trade around 1.3030 while GBP/USD stabilized around 1.5450. USD/JPY hovers around 97.40, having retreated from a high of 98.70 scored on Monday.

Main Headlines in Europe:

China's credit fears go global

UK: BBA Mortgage Approvals rise to 36.1K in May

Spain beats upper debt auction target but yields rise

UK: CBI Distributive Trades Survey – Realized expands in June against expectations

PBoC: Volatility in market liquidity is temporary