The dollar barely recouped its heavy losses on Tuesday as investors were no clearer on whether a de-escalation of the Sino-U.S. trade war was underway, with Treasury Secretary Scott Bessent suggesting the onus was on China to start negotiations.

The dollar struggled to recover on Tuesday after sharp losses, as confusion over the Sino-U.S. trade war continued to unsettle markets. Treasury Secretary Scott Bessent said the onus was on China to de-escalate tariffs,