The dollar recouped some of its losses on Tuesday, supported by reports that the U.S. administration may ease planned tariffs, although investor caution lingered over whether a meaningful de-escalation in the U.

Beijing appears to be bedding in for a protracted battle with the US over tariffs. The Chinese government laid out policies Monday to aid its exporters affected by the trade war, including loan support for troubled firms and measures to further boost domestic consumption.

China on Monday said it was on the right side of history in its gruelling trade war with the United States. Recall that the US President Donald Trump, since returning to the presidency in January, has imposed 10 per cent tariffs on most US trading partners and a separate 145 per cent levy on many products from China.

While investors will closely watch reports in the coming week on jobs, inflation and gross domestic product, the data will be backward-looking amid heightened concern that President Donald Trump’s sweeping tariffs announced on April 2 may inflict future damage on the economy.

Global stocks markets diverged on Monday as investors welcomed the absence of further trade war escalation over the weekend and as countries seek to temper US President Donald Trump's tariffs.

Stocks mostly rose on Monday as investors welcomed the absence of further trade war escalation over the weekend and as countries seek to temper US President Donald Trump's tariffs.