The U.S. dollar depreciated against its major opponents in the European session on Tuesday, as comments from Fed Vice Chair Lael Brainard supported expectations that the central bank would slow the pace of rate hikes in the coming months.

In an interview with Bloomberg in Washington, Brainard signalled that the central bank would move to a slower pace of policy tightening soon.

"I think it will probably be appropriate soon to move to a slower pace of increases, but I think what's really important to emphasize is... we have additional work to do," Brainard said.

The benchmark yield on the 10-year treasury note dropped to 3.812 percent. Yields move inversely to bond prices.

The dollar index that tracks the greenback against a basket of other currencies touched a 3-month low of 105.91.

The greenback touched 0.9379 against the franc, setting more than a 3-month low. If the greenback drops further, 0.90 is possibly seen as its next support level.

The greenback depreciated to more than a 4-month low of 1.0438 against the euro and near a 3-month low of 1.1882 against the pound, from its prior highs of 1.0312 and 1.1740, respectively. The greenback is likely to find support around 1.12 against the euro and 1.27 against the pound.

The greenback edged down to 138.96 against the yen and 1.3250 against the loonie, after rising to 140.63 and a 4-day high of 1.3326, respectively in early deals. Next key support for the greenback is likely seen around 121.00 against the yen and 1.29 versus the loonie.

The greenback declined to more than a 2-month low of 0.6164 against the kiwi and a 2-month low of 0.6769 against the aussie, down from its early highs of 0.6085 and 0.6685, respectively. The next likely support for the greenback is seen around 0.65 against the kiwi and 0.70 against the aussie.

Looking ahead, Canada manufacturing and wholesale sales for September, as well as U.S. PPI for October and New York Fed's empire manufacturing survey for November are due in the New York session.

US Dollar vs CHF (FX:USDCHF)
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