By Lisa Twaronite & Steve Goldstein, MarketWatch LONDON (MarketWatch) -- Lower-yielding currencies such as the dollar and yen got a lift as international equities markets pared gains Tuesday, while the Australian dollar slipped after that country's central bank dropped its easing bias. The rise for the dollar and the yen came as a reversal to Monday's session when strong manufacturing data around the world drove stocks to multi-month highs, and the low-yielding greenback and Japanese unit lower. "Whether we wish to label the latest move as 'irrational exuberance' of the beginning of a new era it looks like Friday and the U.S. nonfarm payroll data may hold the key," said Andrew Timothy Robinson, a strategist at Saxo Bank. One dollar bought 94.67 yen, down from 95.38 yen in late North American trading on Monday. The dollar index (DXY 77.66, +0.02, +0.02%) , which tracks the U.S. unit against a trade-weighted basket of six major currencies, rose to 77.69, up from 77.615 late Monday. By Lisa Twaronite & Steve Goldstein, MarketWatch LONDON (MarketWatch) -- Lower-yielding currencies such as the dollar and yen got a lift as international equities markets pared gains Tuesday, while the Australian dollar slipped after that country's central bank dropped its easing bias. The rise for the dollar and the yen came as a reversal to Monday's session when strong manufacturing data around the world drove stocks to multi-month highs, and the low-yielding greenback and Japanese unit lower. "Whether we wish to label the latest move as 'irrational exuberance' of the beginning of a new era it looks like Friday and the U.S. nonfarm payroll data may hold the key," said Andrew Timothy Robinson, a strategist at Saxo Bank. One dollar bought 94.67 yen, down from 95.38 yen in late North American trading on Monday. The dollar index (DXY 77.66, +0.02, +0.02%) , which tracks the U.S. unit against a trade-weighted basket of six major currencies, rose to 77.69, up from 77.615 late Monday.

Source