The U.S. dollar slipped against other major currencies on Tuesday, with volatility in global markets dulling prospects for U.S. interest rates increases, while Canada's and Australia's battered commodity-related currencies steadied.
Global stocks slid to lows not seen in more than two years as raw materials prices and emerging markets remained under pressure. Commodity prices edged up but held near multi-year lows on concern over an economic slowdown in major consumer China.
Mining and trading giant Glencore, whose shares fell by almost a third on Monday on worries over its debt, saw gains of 17 percent in London that helped the Australian and Canadian dollars.
The Australian dollar was ahead much of Tuesday and was last 0.16 percent higher at $0.6989, recovering from a low of $0.6934, while the U.S. dollar was up 0.22 percent against the Canadian unit at C$1.3428, having risen to a 11-year high earlier in the day.