USD, JPY and CHF fell in the European session on Tuesday as hopes of a near-term recovery of the global economy from the coronavirus downturn continued to boost risk sentiment. USD gained only against JPY and CHF. CHF was firmer against JPY.

Market participants also continued to hope that central banks would continue to flood the financial system with money to support the recovery.

Investors, however, remained mindful of social unrest in the United States that followed the death of George Floyd, an unarmed black man, at the hands of a Minneapolis police officer, as well as persisting tension between Washington and Beijing.

U.S. President Donald Trump threatened late Monday to deploy the U.S. military "if a city or state refuses to take the actions that are necessary to defend the life and property of their residents".