The US dollar rallied through the Asian and European session hours Tuesday as the scent of fear wafted through the market. Speculative interests were put on the defensive starting in the early hours of the new trading session after a Japanese airline filed for bankruptcy protection in the nation’s fourth largest failure in history.

• US Dollar Rally Stunted by New Highs for the Dow, A Rough Start for Q4 Earnings
• British Pound Rallies as Inflation Sparks Long-Lost Interest...

The Euro pared the previous day’s decline against the greenback and rose to a high of 1.4555 during the overnight trade, and the single-currency is likely to hold a narrow range over the next 24 hours of trading as the European Central Bank is scheduled to announce its interest rate decision on Thursday at 12:45 GMT.

Read more: Forex Trading News | Forex Market News http://www.dailyfx.com/forex_market_news/#ixzz0cVLwchda