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·         The dollar fell on Monday, dropping versus the yen for a third straight session, as China imposed extra tariffs on U.S. products, escalating a dispute between two of the world’s biggest economies.

The greenback fell 0.4 percent versus the yen to 105.89 yen, after rising more than 1.5 percent last week for its biggest weekly gain since September 2017.

The euro, meanwhile, was down 0.2 percent at $1.2304, weighed down by overall caution in the market amid a U.S. equities sell-off.

·         The stock market, which took a hit Monday, is not reacting to the "unbelievable" strength of President Donald Trump's economic agenda, senior White House economic official Peter Navarro told CNBC.

Equities tanked Monday as fears of a possible trade war and regulation of the tech industry weighed on investors.

In an interview with "Closing Bell," Navarro said Trump's "singular focus is on economic growth, rising wages and a strong manufacturing and defense industrial base."

The Dow Jones industrial average plunged 459 points on Monday, after falling as much as 758.59 earlier in the day. The S&P 500 dropped 2.2 percent and re-entered correction territory. The Nasdaq composite dropped 2.7 percent.

Navarro, director of the White House National Trade Council, however suggested investors may be overreacting.

·         China imposed tariffs on 128 U.S. products ranging from wine to oranges in order to “balance the losses” caused by U.S. duties and to protect China’s national interests, according to a commentary on the front page of the official People’s Daily.

·         China hopes that a planned meeting between the leaders of North Korea and the United States in May can advance smoothly and that all sides maintain focus and avoid “disruptive factors”, a senior Chinese diplomat said on Tuesday.

·         Oil prices ticked higher after falling more than 3.7 percent on Monday although rising Russian output and the escalating U.S.-China trade dispute still weighed.

Brent crude LCOc1 rose 16 cents to $67.80 a barrel. U.S. crude CLc1 gained 14 cents to $63.15.

Reference: Reuters,CNBC