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Currencies: Dollar slips as investors question likelihood of 2016 rate hike

The dollar slipped against most major currencies on Tuesday, with investors sitting on their hands ahead of a closely watched speech by Federal Reserve Chairwoman Janet Yellen later this week.

The ICE Dollar Index DXY, -0.24% , which measures the greenback against a basket of rivals, dropped 0.3% to 94.234, after ending almost flat on Monday.

Against the yen, the dollar USDJPY, -0.17% was changing hands at ¥100.05, compared with ¥100.33 late Monday in New York. The euro EURUSD, +0.1944% rose to $1.1347, from $1.1320.

The greenback had in recent days gained on short covering after hawkish remarks from Fed officials brightened the outlook for the U.S.

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