The U.S. dollar appreciated against its major counterparts in the Asian session on Tuesday, as U.S. treasury yields rose amid expectations that the Federal Reserve would pursue an aggressive policy tightening to bring inflation under control.

In a speech at the Institute for Monetary and Financial Stability in Frankfurt, Germany, Federal Reserve governor Christopher Waller said that he favored 50 basis point hike at every meeting until there is a substantial reduction in inflation.

U.S. treasury yields rose, with the benchmark 10-year yield touching 2.84 percent.

Risk sentiment dampened after the European Union agreed on a ban to block Russian oil being transported through sea by the end of this year.

U.S. President Biden will hold a meeting with Federal Reserve Chair Jerome Powell to discuss the state of the economy and inflation.

The greenback rose to 1.0729 against the euro, from a low of 1.0779 set at 6 pm ET. The greenback may possibly challenge resistance around the 1.05 level.

The greenback climbed to a 5-day high of 0.9614 against the franc and a 4-day high of 1.2591 against the pound, from a prior low of 0.9564 and a 4-day low of 1.2655, respectively. The greenback is seen finding resistance around 0.99 against the franc and 1.22 against the pound.

The greenback advanced to near a 2-week high of 128.34 against the yen and a 4-day high of 0.6516 against the kiwi, after dropping to 127.51 and near a 4-week low of 0.6564, respectively earlier in the session. The next possible resistance for the greenback is seen around 130.00 against the yen and 0.62 against the kiwi.

The greenback staged a modest recovery against the loonie, with the pair trading at 1.2679. On the upside, 1.28 is possibly seen as the next resistance level.

In contrast, the greenback held steady against the aussie, after having rebounded from near a 4-week low of 0.7204 seen 8 pm ET. The pair was worth 0.7194 at yesterday's close.

Looking ahead, Eurozone flash inflation for May is scheduled for release in the European session.

Canada GDP data for the first quarter, U.S. FHFA's house price index and S&P/Case-Shiller home price index for March and consumer confidence index for May will be featured in the New York session.

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