U.S. dollar falls after rallying for four sessions

The U.S. dollar decreased against most major currencies on Tuesday after soaring for four consecutive sessions.

The dollar index, which measures the greenback against six major peers, was up nearly 1.4 percent to two-week highs in the previous four sessions, after upbeat U.S. employment report spurred market expectation for an interest-rate hike by year-end.

U.S. total nonfarm payroll employment rose by 255,000 in July, beating economists' estimates of 180,000, and the unemployment rate was unchanged at 4.9 percent, the Labor Department reported Friday.

Average hourly earnings for all employees increased 8 cents to 25.69 U.S. dollars, following a 2-cent increase in June, according to the report.

Analysts said the Federal Reserve may raise interest rates later this year given the robust labor market.

The U.S. central bank left the benchmark interest rate unchanged in its July meeting, and said that near-term risks to the economic outlook have diminished.

The dollar index went down 0.24 percent at 96.173 in late trading on Tuesday after investors took profits from recent gains.

In late New York trading, the euro rose to 1.1111 dollars from 1.1084 dollars of the previous session, and the British pound dipped to 1.2996 dollars from 1.3041 dollars. The Australian dollar went up to 0.7664 dollars from 0.7655 dollars.

The dollar bought 101.81 Japanese yen, lower than 102.44 yen in the previous session. The dollar fell to 0.9819 Swiss francs from 0.9827 Swiss francs, and it inched down to 1.3143 Canadian dollars from 1.3163 Canadian dollars. Enditem