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• The dollar hovered near a four-month high on Tuesday, continuing to draw support from higher Treasury yields and upbeat prospects for the U.S. economy, leaving its major rivals such as the euro struggling and others including the Argentine peso down sharply.

The dollar index against basket of six major currencies was 0.1 percent higher at 92.864 after reaching 92.974 overnight, its highest since Dec. 28.

The dollar dipped was flat at 109.090 yen after going as high as 109.400 overnight. The yen is often sought in times of political tensions and market turmoil.

The euro was effectively flat at $1.1920 after plumbing $1.1897 the previous day, its lowest in more than four months.

• The US Dollar hovered near four-month highs against its major traded rivals, with the Euro still reeling from weak German industrial data on Monday.

EUR/USD remains stick in a marked down channel but falls seem to have found support around the lows of January. Should they give way bulls will need to be on watch for a deeper slide back to the nadirs of December, 2017.

• U.S. President Donald Trump will announce on Tuesday whether he will pull out of the Iran nuclear deal or stay in and work with European allies who say it has successfully halted Iran’s nuclear ambitions.

A senior U.S. official close to the process said France, Germany and Britain had moved significantly to address Trump’s concerns over the ballistic missile program, the terms under which international inspectors visit suspect Iranian sites, and “sunset” clauses under which some terms of the deal expire.

But it was not clear whether those last-ditch efforts had made enough progress to persuade Trump to stay in the pact.

• The Federal Reserve’s interest rate hikes may not pose as big a risk for global financial markets and emerging market economies as many have thought, the U.S. central bank’s chairman said on Tuesday.

Still, Jerome Powell said global risk sentiment bears watching as the Fed carries out its well-telegraphed gradual policy-rate increases.

• German industrial output rose more than expected in March, data showed on Tuesday, suggesting that factories in Europe’s largest economy ended the first quarter on a strong footing after two disappointing months.

Data from the Economy Ministry showed output jumped by 1.0 percent, beating expectations in a Reuters poll for a 0.8 percent rise.

Separate data published by the Federal Statistics Office showed exports rose 1.7 percent in March while imports fell 0.9 percent.

This widened the seasonally adjusted trade surplus to 22 billion euros from a revised 19.4 billion euros in the previous month, the data showed. Analysts had expected a surplus of 19.8 billion euros.

• A senior German official on Monday expressed concern about limits facing foreign correspondents in China, and urged Beijing to allow state-funded German public broadcaster Deutsche Welle to open an office in Beijing.

• China’s exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.

China's April imports jumped 21.5 percent and its exports grew 12.9 percent against the prior year-ago period.

Both of those figures, denominated in U.S. dollars, topped analysts expectations: A Reuters poll had predicted 16 percent import growth and 6.3 percent export growth.

Overall, China's April trade balance was a positive $28.78 billion, topping a Reuters poll prediction of $24.7 billion.

Of note, the country's trade surplus with the U.S. expanded to $22.19 billion in April — compared with a surplus of $15.43 billion in March, customs data showed.

For January-April, China's trade surplus with the United States was $80.4 billion.

• Japan and North Korea should begin talks to normalize relations between the two countries and contribute to peace and stability in the region, South Korean President Moon Jae-in told a Japanese newspaper on Tuesday.

• Finance Minister Taro Aso said on Tuesday that Japan will host a G20 financial leaders’ meeting in Fukuoka, western Japan, over June 8-9 next year.

• Oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.

U.S. crude futures last traded at $70.11 per barrel, down 0.9 percent from Monday’s settlement price.

Global benchmark Brent crude futures stood at $75.64 per barrel, down 0.7 percent, having risen as high as $76.34 on Monday.

Reference: Reuters, CNBC